A picture is worth a thousand words

http://news.yahoo.com/news?tmpl=stor...xev10211261853

"Scott" <pugetsounddiver@gmail.com> wrote in message
news:dPmdnXys_47kvBbeRVn-og@wavecable.com...
> http://news.yahoo.com/news?tmpl=stor...xev10211261853

WASHINGTON - Rep. Randy "Duke" Cunningham will plead guilty to tax
violations, a source close to the investigation of the California Republican
has told The Associated Press. Cunningham has been under investigation
since his sale of his home to a defense contractor at an apparently inflated
price in 2003 attracted the attention of federal investigators.

In November 2003, he sold his Del Mar, Calif., home to defense contractor
Mitchell Wade for $1,675,000. Wade put the house back on the market and sold
it after nearly a year for $975,000 - a loss of $700,000 in one of the
nation's hottest housing markets. Cunningham and his wife, Nancy, used the
proceeds from the sale to buy a $2.55 million mansion in ritzy Rancho Santa
Fe, Calif. Wade also let Cunningham live rent-free on his yacht, the Duke
Stir, at the Capital Yacht Club. His firm, MZM Inc., donated generously to
Cunningham's campaigns.

Around the same time, MZM was winning valuable defense contracts at a time
when Cunningham sat on the House Appropriations subcommittee that controls
defense dollars. In 2004 the little-known company based in Washington, D.C.,
tripled its revenue and nearly quadrupled its staff, according to
information posted on the company Web site. Though he denied wrongdoing
when he announced in July that he wouldn't seek re-election, Cunningham
himself acknowledged that the sale didn't look good.