SAN DIEGO -- In a tearful statement, Rep. Randy "Duke" Cunningham resigned Monday after admitting taking $2.4 million in bribes.

The Republican congressman and Vietnam War veteran pleaded guilty to bribery and admitted that he took millions of dollars to steer defense contracts to conspirators using his leadership position on a congressional subcommittee.

"The truth is 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.

"I can't undo what I have done but I can atone," Cunningham added.

Authorities said Cunningham, 63, secured defense contracts worth tens of millions of dollars for the people who bribed him. The case grew from an investigation into the sale of his home in Del Mar to a wide-ranging conspiracy involving payments in cash, vacations and antiques from unidentified conspirators.

Cunningham, an eight-term congressman, answered "yes, your honor" when asked by U.S. District Judge Larry Burns if he had accepted bribes in exchange for his performance of official duties.

"Mr. Cunningham used his public office to pressure and influence Department of Defense personnel to award and execute government contracts in a manner that would benefit the defense contractors," Lam added.

"He did the worst thing an elected official can do -- he enriched himself through his position and violated the trust of those who put him there," Lam added.

After the hearing, Cunningham was fingerprinted then released on his own recognizance until a Feb. 27 sentencing hearing. He could receive a maximum sentence of 10 years in prison.

Cunningham agreed to forfeit to the government his Rancho Santa Fe home, more than $1.8 million in cash and antiques and rugs.

In court documents, prosecutors said Cunningham was given $1.025 million to pay down the mortgage of his Rancho Santa Fe home, $13,500 to buy a Rolls Royce and $2,081 for his daughter's graduation party at a Washington, D.C, hotel. Prosecutors did not name the conspirators.

The tax evasion charge came after Cunningham reported joint income with his wife of $121,079 for 2004 and claimed he was due a refund of $8,504. Prosecutors said his income was $1,215,458 and he owed $385,077 in taxes.

Daniel Dzwilewski, the FBI's special agent in charge in San Diego, called the violations "staggering" for a U.S. congressman.