Thursday, August 25, 2005

Fire Sale

If you want to bribe Duke Cunningham R-CA, you'd better do it fast. His days are seriously numbered. The feds filed a court document that alleged Cunningham "demanded and received" a bribe from Mitchell Wade by forcing Wade to buy his house at an overvalued $1.67 million in 2003. Wade later dumped the house for $700,000.

The Duke then used his windfall to buy the $2.55 million house he currently owns and is trying to sell for $3.5 million. That is a 37% appreciation in two years. That's plausible, I don't know the area, but it sure sounds like Duke is a one trick pony. Anyway, as I noted before, the feds have filed a lis pendens to block the sale so I guess that's a moot point.

Goodbye Duke

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