Oil Company CEO to Alaska Republican: “I Own Your Ass”

May 8th, 2007

Via: Reuters:

The chief executive and part owner of Alaska’s largest oil-field services company and one of his vice presidents pleaded guilty on Monday to charges that they tried to bribe Alaska legislators to secure favorable state oil policies.

VECO Corp. Chief Executive Bill Allen and Richard Smith, vice president for community affairs and government relations, pleaded guilty to charges of bribery, extortion and conspiracy.

If convicted on all counts, each face as much as 20 years in prison and fines of $750,000.

The officials entered their guilty pleas in federal court in Anchorage on Monday after reaching plea agreements last week.

Arrested last Friday in Juneau were a current state legislator, Rep. Vic Kohring, and two former legislators — Rep. Bruce Weyhrauch and former House Speaker Pete Kott. All three Republicans were charged with seeking money and jobs from Anchorage-based VECO in exchange for pushing the company’s preferred version of an oil-tax bill.

If convicted on all charges, the legislators each could face as maximum of 70 years in prison and fines of up to $1 million.

“I own your ass,” Allen told Kott, the former house speaker, according to the indictment released last Friday.

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One Response to “Oil Company CEO to Alaska Republican: “I Own Your Ass””

  1. Tim Fuller says:
    May 8, 2007 at 3:51 pm

    Shocking. Can’t believe there’s actually legal action that’s been taken against rich oil company types. Must have been one helluva smoking gun.

    Enjoy.

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