Alaska Sen. Ted Stevens, the longest-serving Senate Republican in history, was found guilty Monday of lying about free home renovations and other gifts from a wealthy contractor looking for political favors.

While Bill Allen waits patiently to testify against Sen. Ted Stevens and others in ongoing corruption cases, the Alaska businessman and his children have set up several new companies that deal in energy, construction, real estate, tourism and aviation.

Sen. Ted Stevens, the longest-serving Republican in the U.S. Senate and a major power in Alaska politics, was indicted today by a federal grand jury on charges of hiding hundreds of thousands of dollars in gifts.

The latest chapter in the ongoing Alaska corruption case began yesterday, with the trial of former Alaska state Rep. Vic Kohring.

Kohring is accused of accepting bribes from VECO Corp., an oil-field services company that was bought in August by CH2M Hill. Although he acknowledges accepting money from former VECO CEO Bill Allen, Kohring says he did so as a friend receiving a gift.

Allen and former company VP Rick Smith have pleaded guilty to bribery charges. Another former state legislator, Pete Kott, was convicted in the case last month.