VECO's Bill Allen waiting for 'ax to fall'

[L. Coyote]

Bill Allen waiting for 'ax to fall'
MONEY NO PROBLEM: Former Veco CEO still has millions but not the power.
RICHARD MAUER - August 17th, 2008 - http://www.adn.com/news/alaska/story/496344.html


Two Alaska state legislators bribed by Bill Allen for a pittance of his wealth are broke and behind bars, and two others who are likewise accused are preparing expensive criminal defenses. Sen. Ted Stevens faces criminal charges over alleged gifts from Allen, and Allen's contributions to Rep. Don Young are part of an ongoing federal investigation.

So what has Allen, the source of all that trouble, been up to since he pleaded guilty to bribery and conspiracy on May 7, 2007?

The former chairman of the defunct oil services company Veco has yet to see a day in jail. His sentencing has repeatedly been delayed as he continues to cooperate with federal prosecutors and the FBI in their ongoing inquiry into Alaska corruption. It was recently pushed back again, to February 2009.

In the meantime, Allen and members of his family have suddenly found themselves cash rich. The sale of Veco to Denver-based CH2M Hill 11 months ago produced a windfall of $146 million divided among privately held Veco's six owners, chief among them Allen and his three grown children.

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Allen jet logs lots of air time around the West
http://www.adn.com/politics/story/496348.html

Blog: Alaska Politics
http://www.adn.com/alaskapolitics

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