Senator Ted Stevens is guilty on 7 charges for home renovations, gifts

Stevens claimed he did nothing wrong and paid $160,000, thinking this amount covered all the costs for home renovations. However prosecutors said he had received more than $250,000 for renovating his home.

Among the home renovations made by VECO employees are the installation of a new roof, wraparound deck and rope lighting system , gutter repairs and electrical wiring, work on the boiler and installed or repaired kitchen appliances, AP reports.

Among the gifts are included an expensive fish statue on Steven's front porch and a sled dog puppy the senator valued in $250 while his friend paid for it $1,000 at a charity auction.

The verdict came a week ahead of the 2008 Presidential Elections and is likely to have effect on the Republican seats at the senate.

Stevens faces up to five years in prison on each count. However, given he is 84 years old and has a long public service record it is unlikely that his jail sentence will be long or that he will be given any, according to reports today.