Rep. Cunningham Enters Guilty Plea, Resigns

Rep. Randy "Duke" Cunningham (R-Calif.) pleaded guilty today to fraud, conspiracy to commit bribery and tax evasion. Shortly after entering his plea, Cunningham announced that he is immediately resigning his seat, though he had already announced that he would not seek reelection next year.

According to The Associated Press, Cunningham admitted "he took $2.4 million in bribes to steer defense contracts to conspirators." The defense contracting firm at the center of the scandal is MZM Inc., which is run by Mitchell Wade.