Senator Ted Stevens, an Alaska institution for decades, has been found guilty on all seven corruption counts by a jury. Stevens was convicted of "knowingly and willfully" scheming to lie on Senate disclosure forms about more than $250,000 in home renovations and other gifts he received from an industry contractor based in Alaska.

Stevens is on the ballot on next week's election, and is locked in a tight race for re-election. Ted Stevens faces a maximum sentence of 35 years in prison.