Post by IncogNITO on Nov 28, 2005 16:32:57 GMT -5
What the heck happened to Lawmakers being Honest.
Calif. Rep. resigns after bribery plea 58 minutes ago
LOS ANGELES (Reuters) - U.S. Rep. Randy "Duke" Cunningham, a California Republican, resigned on Monday after pleading guilty to taking $2.4 million in bribes in exchange for help in securing Defense Department contracts.
Cunningham, 63, an eight-term congressman and decorated Vietnam War veteran, had been under federal investigation for his ties to Washington-based defense contractor MZM Inc. since the summer.
"I am resigning from the House of Representatives because I've compromised the trust of my constituents," Cunningham said after the court hearing.
He entered guilty pleas in San Diego federal court on Monday to conspiracy to commit mail fraud, wire fraud and tax evasion. The last charge stemmed from the underreporting of his income in 2004.
Cunningham, who in July had denied any wrongdoing, said he was deeply sorry. "I broke the law, concealed my conduct and disgraced my office. I know that I will forfeit my freedom, my reputation, my worldly possessions, most importantly, the trust of my friends and family," he said.
Cunningham had already said he would not seek reelection in 2006. He is scheduled to be sentenced on February 27 when he could be ordered to spend 10 years in prison and pay hundreds of thousands of dollars in fines.
Cunningham's guilty plea followed several months of investigation by the Internal Revenue Service, the criminal investigative arm of the Pentagon, the FBI and federal prosecutors.
"Yes, your honor," Cunningham said when Judge Larry Burns asked him if he had accepted bribes.
The investigation into the former Vietnam War fighter pilot stemmed from his $1.6 million sale of his Del Mar, California, home in 2003 to Mitchell Wade, until recently the chief executive of MZM, Inc.
Wade quickly sold the home for a $700,000 loss in the midst of San Diego's booming housing market.
Prosecutors alleged that Cunningham demanded and received an inflated price for his home from Wade in return for official favors. Cunningham and his wife then used the inflated proceeds to buy another house in the San Diego area.
Cunningham is a member of the House intelligence committee and the appropriations sub-committee that controls defense spending.
Calif. Rep. resigns after bribery plea 58 minutes ago
LOS ANGELES (Reuters) - U.S. Rep. Randy "Duke" Cunningham, a California Republican, resigned on Monday after pleading guilty to taking $2.4 million in bribes in exchange for help in securing Defense Department contracts.
Cunningham, 63, an eight-term congressman and decorated Vietnam War veteran, had been under federal investigation for his ties to Washington-based defense contractor MZM Inc. since the summer.
"I am resigning from the House of Representatives because I've compromised the trust of my constituents," Cunningham said after the court hearing.
He entered guilty pleas in San Diego federal court on Monday to conspiracy to commit mail fraud, wire fraud and tax evasion. The last charge stemmed from the underreporting of his income in 2004.
Cunningham, who in July had denied any wrongdoing, said he was deeply sorry. "I broke the law, concealed my conduct and disgraced my office. I know that I will forfeit my freedom, my reputation, my worldly possessions, most importantly, the trust of my friends and family," he said.
Cunningham had already said he would not seek reelection in 2006. He is scheduled to be sentenced on February 27 when he could be ordered to spend 10 years in prison and pay hundreds of thousands of dollars in fines.
Cunningham's guilty plea followed several months of investigation by the Internal Revenue Service, the criminal investigative arm of the Pentagon, the FBI and federal prosecutors.
"Yes, your honor," Cunningham said when Judge Larry Burns asked him if he had accepted bribes.
The investigation into the former Vietnam War fighter pilot stemmed from his $1.6 million sale of his Del Mar, California, home in 2003 to Mitchell Wade, until recently the chief executive of MZM, Inc.
Wade quickly sold the home for a $700,000 loss in the midst of San Diego's booming housing market.
Prosecutors alleged that Cunningham demanded and received an inflated price for his home from Wade in return for official favors. Cunningham and his wife then used the inflated proceeds to buy another house in the San Diego area.
Cunningham is a member of the House intelligence committee and the appropriations sub-committee that controls defense spending.