Via the LAT: Scrutinized Investment Made Senator $822,000Sen. Ted Stevens (R-Alaska) made $822,000 last year from the sale of a controversial real estate investment with an Anchorage developer who had obtained a huge federal contract with his help, records show.

In 1997, Stevens invested $50,000 with developer Jonathan B. Rubini. Last year, at Stevens’ request, Rubini and his partner bought back the senator’s interests in their deals for $872,000, according to Senate financial disclosure forms made public Tuesday.

About three years after he made that investment, Stevens helped Rubini secure a $450-million Air Force housing contract. The senator had no financial interest in that deal.

I try not to draw snap conclusions about these kinds of situations from a sole news report, but this doesn’t look good at all.

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