The indictment apparently alleges that Stevens made false statements to federal investigators, the same sorts of charges that brought down people like Martha Stewart and Lewis Scooter Libby," CBS News legal analyst Andrew Cohen said.
"As a purely legal matter, Stevens may continue to serve in the Senate even while he defends himself against the charges," Cohen adds.
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"Stevens was already considered a vulnerable incumbent facing re-election this November by most political analysts and this won't help improve those chances.
Combine the scandal with Barack Obama's interest in putting the state in play and Alaska could find itself a real battleground this fall." Stevens has coasted to re-election six times in Alaska, but was in what was viewed as the toughest race of his career this year against Anchorage Mayor Mark Begicha.
Don Young of Alaska, who is also under investigation.
CBS News reports all seven false statement counts relate to the statements he made on financial disclosure forms from 1999 to the 2006 form.
..yes-man sycophants would fail to do a simple internet search before naming an Army vehicle AFTER A HOSPITAL BED! senator to face federal indictment since 1993, has been dogged by a federal investigation into his home renovation project and whether he pushed for fishing legislation that also benefited his son, an Alaska lobbyist.