19 March 2007

Dick buys Duke a Yacht

In the summer of 2002, Mitchell Wade negotiated a price of exactly $140,000 for a yacht.

About that same time, Dick Cheney's office awarded Wade his first-ever federal contract for exactly $140,000.

2 weeks later, federal taxpayer money in hand, Mitchell Wade bought the yacht and gave it to his buddy, San Diego-area Representative Duke Cunningham.

Last year, Wade and Cunningham were convicted of fraud and both sentenced to jail.

San Diego-based US Attorney Carol Lam led the investigation that resulted in Cunningham's confession and jail sentence.

After last November's elections, Bush fired Lam.

Question: Was Lam fired before she could make a connection between Cheney's $140,000 contract and Cunningham's $140,000 yacht?

More here.


David said...

The only thing that doesn't jive here is the fact that the profit on 140K would have been about $11,200. That's not really yacht money or even a down payment.

Ron Davison said...

That could be. It could also be that the profit was more than that and / or was sufficient for a down payment. They have some pretty aggressive purchase plans for cars and houses - hard to believe that one couldn't get one for yachts. This is the age of easy credit.