Related To Story RANDY 'DUKE' CUNNINGHAM
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Heir To Dow Jones Buys Cunningham's Mansion
House Sells For $2.6 Million
POSTED: 6:55 am PST December 8,
2005
UPDATED: 1:03 pm PST December 9,
2005
SAN DIEGO -- Former Rep. Randy "Duke" Cunningham's five-bedroom home in Rancho Santa Fe sold for $2.6 million.
The house was sold to an heir to the Dow Jones & Co. publishing empire Wednesday, and the selling price was $50,000 more than what Cunninghams paid for it two years ago. Cunningham and his wife listed the house for $3.5 million in August, a few weeks after federal officials moved to seize it as part of the investigation that led to Cunningham admitting he took about $2.4 million in bribes. Cunningham's share of the proceeds from the sale will go to the federal government, but his wife may be able to keep some of the money. Cunningham's wife's proceeds will be decided through negotiations or the resolution of the federal suit in which federal authorities attempted to seize the home. The house was part of a 2003 deal that involved crimes that led the Republican congressman to plead guilty Nov. 28 to conspiracy and tax evasion. Cunningham admitted using bribe money to pay off more than $1 million in mortgages he took out to buy the house. The 7,268-square-foot mansion features five bedrooms and eight bathrooms. Earlier this week Cunningham turned over to the government antiques and furnishings involved in the bribes that will be auctioned off to the public next year. Cunningham faces up to 10 years in prison and $350,000 in fines at a sentencing scheduled for Feb. 27.
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