GUILTY!

Alaskan republican Senator Ted Stevens has been found guilty on felony charges for making false statements.

It seems that the jury didn’t buy Stevens’ explanation that the former head of Veco, Corp., Bill Allen, gave him gifts he didn't want and was unaware of, and that he believed the $160,000 he gave to another contractor covered all costs for the home renovations.

According to the AP, Stevens could face up to five years in prison on each count… but considering federal sentencing guidelines, he’ll likely receive much less prison time if any at all.

But it almost certainly means an end to his senate career as Stevens is currently locked in what already has been a tough re-election campaign against Democrat Mark Begich.

Stay tuned for more…