Friday, October 13, 2006
Federal regulators are looking into to a Congressman’s home purchase more than a decade ago. The FDIC is reviewing its archives to find out what role it may have played in selling a home to Republican Representative Duncan Hunter for a price below market value. KPBS Radio’s Andrew Phelps reports.
Spokesman Frank Gresock says the FDIC wants to know whether it had a role in violating ethics laws in 1994, when Hunter bought a home in Alpine for tens of thousands of dollars less than its actual market value. The San Diego Union-Tribune reported that Hunter bought the home from a branch of the FDIC that he helped create in Congress.
Hunter adamantly denies that he acted inappropriately. Hunter’s spokesman says the fault lies with San Diego County property assessors who misreported the price of the home unbeknownst to the congressman. The county assessor says he won’t talk about the transaction until Hunter gives permission to make those records public. For KPBS, I’m Andrew Phelps.