Author Topic: Duke Cunningham  (Read 1022 times)

Offline Sandman

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Duke Cunningham
« on: June 15, 2005, 07:38:17 PM »
Hey... you guys see this?

http://www.nctimes.com/articles/2005/06/13/news/politics/61205200842.txt


Ya gotta wonder... this doesn't look good at all.

(Sorry... I'm going to break up the love-in with a political thread, but in my defense, he is a fighter ace.) :)
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Offline Maverick

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Duke Cunningham
« Reply #1 on: June 15, 2005, 08:15:35 PM »
Sandy can ya do a cut and paste. The darn thing won't open unless I allow some active-x file to function.
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Offline Toad

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« Reply #2 on: June 15, 2005, 08:17:31 PM »
Cunningham home sale to defense contractor to raises questions

 
 
 
 
 


 
 
By: Wire Reports -

SAN DIEGO - A defense contractor bought Rep. Randy "Duke" Cunningham's Del Mar home in November 2003 and sold it nearly nine months later at a $700,000 loss, it was reported today.

At the time, the Republican congressman was supporting Mitchell Wade and his firm MZM Inc. in efforts to win Pentagon contracts, The San Diego Union- Tribune reported.

Cunningham used the proceeds from the sale to buy a home in Ranch Santa Fe for about $2.5 million, the newspaper reported.

About the same time, Wade's company, which had been suffering through a flat period, was awarded tens of millions of dollars in defense and intelligence-related contracts, according to the Union-Tribune.

Cunningham denied anything untoward about the dealings.

"My whole life I've lived aboveboard," he told the newspaper. "I've never even smoked a marijuana cigarette. I don't cheat."

But others congressional and political watchdog organizations said it just didn't look right.

"This doesn't look good at all," Larry Noble, director of the Center for Responsive Politics, told the Union-Tribune. "It doesn't look like something that was on the up and up."

Wade was unavailable for comment last week. Scotty Brumett of MZM Inc. said Wade bought Cunningham's home to raise the firm's profile in San Diego.

"We were looking at expanding our company presence in San Diego," he told the Union-Tribune. "We looked at the property and thought it would work for us. But after we bought it, we realized that it did not meet our security or our corporate needs."

The Del Mar home was put back on the market within a month of the purchase, but it was never included on the multiple listing service used by Realtors, the newspaper reported.

Property records show the buyer of the Del Home as 1523 New Hampshire Avenue LLC. Nevada state business records show that Wade owns that company, the name of which is the same as the address of his Washington, D.C., office.

Cunningham told the Union-Tribune the real estate deal was independent of any help he may have given MZM.

"I don't have anything to do with contracts," Cunningham said.

MZM has been a major contributor to Cunningham campaigns, having donated $13,000 in the 2003-04 election cycle, the Union-Tribune reported.

According to the newspaper: Wade was a Pentagon program manager before starting MZM in 1993. In 2003 and 2004, MZM's business picked up. In fiscal 2003, it won $41 million in defense contracts. Since then, MZM has added tens of millions of dollars in additional contracts, including a $5 million contract to provide interpreters in Iraq. In 2004, MZM had $66 million in revenues, according to Washington Technology magazine, which put the relative corporate newcomer on its 2005 list of "Top 100 Federal Prime Contractors."
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Offline Captain Virgil Hilts

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« Reply #3 on: June 15, 2005, 08:31:05 PM »
I read that, I'm not sure what to make of it, I'd like to see more,
and from different sources.

On another note, the guy over at rightwingnews is all over Duke, but I didn't see anything more there than I did anywhere else.

Anyone finds more, post it here, I'd like to see it.
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Offline Maverick

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« Reply #4 on: June 15, 2005, 08:32:28 PM »
What does it mean when someone says "it doesn't look good"????

From what the article said Cunningham sold his house. AFAIK there is no law saying he can't sell it to someone that contracts with the govt. especially if it isn't with Cunninham's area of duty in Congress.

Sheesh either make an allegation of actual wrongdoing or keep quiet about it. This trial by media and innuendo has gotten old.
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Offline Yeager

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Duke Cunningham
« Reply #5 on: June 15, 2005, 08:42:07 PM »
DUKE KILLED TOON!!!!!

LONG LIVE THE DUKE!!!!
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Offline Karnak

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« Reply #6 on: June 15, 2005, 08:54:51 PM »
Maverick,

What it is implying is that he sold his house for way above market value.  In other words that the contractor was slipping a back door bribe to him and then sold the house at it's market value, $700,000 less than they bought it for.


Is there anything too it?  I'd have to see more before I'd feel comfortable saying we know enough to jump on Rep. Cunningham.
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Offline john9001

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Duke Cunningham
« Reply #7 on: June 15, 2005, 09:01:51 PM »
dumb neocons don't know how to launder money, it takes a democrat to do it right, ( see clinton/whitewater)

Offline Toad

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« Reply #8 on: June 15, 2005, 09:04:44 PM »
^
 |

There's the fork in the thread. It either now takes the high road or the low road.

There's other ways to convey your opinion John.
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Offline john9001

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« Reply #9 on: June 15, 2005, 09:08:51 PM »
Quote
Originally posted by Toad
^
 |

There's the fork in the thread. It either now takes the high road or the low road.

There's other ways to convey your opinion John.


the thread was about weather cunningham took a bribe.

Offline Toad

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« Reply #10 on: June 15, 2005, 09:14:01 PM »
Indeed.

So what exactly does Clinton, Whitewater or Democrats have to do with whether or not Cunningham took a bribe?

Two wrongs don't make a right.

So, yeah, I agree. The topic is Cunningham. Got anything to say about him and this situation?
If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, and may posterity forget that you were our countrymen!

Offline Gunslinger

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« Reply #11 on: June 15, 2005, 09:27:13 PM »
It does sound kinda fishy but this just cracked me up

Quote
MZM has been a major contributor to Cunningham campaigns, having donated $13,000 in the 2003-04 election cycle, the Union-Tribune reported.


isn't that the max contribution from a business?  I don't see how that's major but then again this is a small part of the story.

Here's what I don't buy completly:

Quote
In 2003 and 2004, MZM's business picked up. In fiscal 2003, it won $41 million in defense contracts. Since then, MZM has added tens of millions of dollars in additional contracts, including a $5 million contract to provide interpreters in Iraq. In 2004, MZM had $66 million in revenues, according to Washington Technology magazine, which put the relative corporate newcomer on its 2005 list of "Top 100 Federal Prime Contractors."


This seems like it's much to do about nothing.  We did invade this country called Iraq and defense contractors have made ALOT of money since them.

Offline Mini D

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« Reply #12 on: June 15, 2005, 09:32:06 PM »
I saw no mention of market value in the article. I find that odd. No comment on how long the property was for sale and what the asking price was. No real mention of the property at all. Just the 2.5 million dollar estate purchased after it's sale. Wierd how they throw an irrelevant number in there and leave the relevant stuff out.

Typical journalism these days.

Disclaimer: This article is the first I've ever heard of this guy.

Offline Toad

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« Reply #13 on: June 15, 2005, 09:35:37 PM »
Lawmaker's home sale questioned

Quote
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.....


..."We were looking at expanding our company presence in San Diego," Brumett said. "We looked at the property and thought it would work for us. But after we bought it, we realized that it did not meet our security or our corporate needs."

So the company placed it back on the market within one month of purchasing it, where it stayed for more than eight months, selling eventually for $700,000 less than the price Wade gave Cunningham.

"I don't know why it didn't sell," said listing agent Elizabeth Todd, a Realtor with the Willis Allen Co. in Del Mar. "I honestly don't. I mean, it's a house in Del Mar west of I-5 and it's a good-sized house. I honestly don't know why."

No Realtor was formally involved when Cunningham sold the house to Wade. But Todd had set the asking price for Cunningham at $1,675,000 and sent a table of comparable house sales to Wade justifying the price, she and Cunningham said. He didn't hire Todd as the listing agent and never paid her a fee, she added. Nor was the house ever posted in the Realtors' multiple listing service, she added.

 



There's more there as well.

I figure let it brew up for a week or two, we'll have an idea what went down.
If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, and may posterity forget that you were our countrymen!

Offline Nash

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« Reply #14 on: June 15, 2005, 09:40:08 PM »
This guy has been talking about it for what seems like ten days straight. It only just hit the papers today. If you're curious about it - it has pretty much everything that's known about it.