11-28-2005, 06:24 PM #1Former Member
- Join Date
- Aug 2005
Kinda shocking - not that he took the bribes, but that he actually finally had to admit to it. OTOH, when a house in San Diego sells for anything less than it was bought for, you know there's a problem - prices here have been going up like crazy forever. I guess it was just too obvious to fight.
Rep. Randy "Duke" Cunningham resigned from Congress on Monday after admitting he took $2.4 million in bribes to steer defense contracts to co-conspirators. He pleaded guilty to conspiracy and tax charges in a case that grew from an investigation into the sale of his home to a wide-ranging conspiracy involving payments in cash, vacations and antiques. ....
After the hearing, Cunningham was taken away for fingerprinting. He was released on his own recognizance until a Feb. 27 sentencing hearing.
He also agreed to forfeit to the government his Rancho Santa Fe home, more than $1.8 million in cash and antiques and rugs.
The case began when authorities started investigating whether Cunningham and his wife, Nancy, used the proceeds from the $1,675,000 sale to defense contractor Mitchell Wade to buy a $2.55 million mansion in ritzy Rancho Santa Fe. Wade put the Del Mar house back on the market and sold it after nearly a year for $975,000 — a loss of $700,000.