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Originally posted by Intelearthling
He has really screwed up the rest of his life in his latter years.
Greetings, my friend. We are all interested in the future, for that is where you and I are going to spend the rest of our lives. And remember my friend, future events such as these will affect you in the future.
Originally posted by whaaa
I'll bet he never sees a day in the joint. The prosecution must have offered him a sweet deal, to rat out the rest of his cronys, to get a guilty plea.
Originally posted by Icarus Rising
I was wondering how Cunningham became a target to begin with. Was he just too obvious with his ill gotten gains?
The case grew out of an investigation into the sale of Cunningham's home in Del Mar, a seaside suburb north of San Diego, to a defense contractor at an inflated price.
The suit alleges that Wade purchased the Del Mar Heights home "for $1.675 million, an amount far greater than its true fair market value. Cunningham demanded and received this money in return for being influenced in the performance of his official acts as a public official, in violation of Title 18, United States Code, Section 201."
That section of the code governs bribery of public officials. A part of the section says a public official who demands anything of value in return for being influenced in his or her official duties can be fined up to three times the value of the proceeds, imprisoned for up to 15 years, and disqualified from holding public office.
The suit states that after selling the Del Mar Heights home to Wade, Cunningham and his wife, Nancy, purchased the Rancho Santa Fe home.
"The Cunninghams used for their down payment ... the net proceeds (over $1.4 million) from the $1.675 million that Cunningham had demanded and received in return for being influenced in the performance of his official acts," the suit alleges.
Wade sold the Del Mar Heights home for $700,000 less than he paid Cunningham without ever living in it or using it as a place for MZM workers to stay, something Cunningham said in June he believed was Wade's intent.
Mitchell Wade bought the San Diego Republican's house for $1,675,000 in November 2003 and put it back on the market almost immediately for roughly the same price. But the Del Mar house languished unsold and vacant for 261 days before selling for $975,000.
Originally posted by Esoteric Teacher
How many politicians that hold any elected offices have had their intentions bought and paid for?
op by GP
The investigation grew out of the sale of Cunningham's home to a defense contractor for more than its market value. The contractor then put the house up for sale immediately and sold it at a loss two hundred sixty one days later.
The unraveling of Cunningham's illicit dealings with defense contractors began in June when Copley News Service reported that Mitchell Wade, founder of the Washington defense firm MZM Inc., had paid $700,000 more for Cunningham's Del Mar Heights home than he would sell the same property for less than a year later.