From the San Fran Chronicle: Maureen O'Connor was a physical education teacher who won a seat on the San Diego City Council when she was only 25 years old, later winning two terms as the city's first female mayor as she charmed voters with a populist flair.
But her rapid rise was matched
by her fall, culminating Thursday when she acknowledged in federal court that
she took $2.1 million from her late husband's charitable foundation during a
decade-long gambling spree in which she won — and lost — more than
$1 billion.
O'Connor pleaded not guilty to a money laundering charge in an
agreement with the Justice
Department that defers prosecution for two years while she tries to repay
the foundation and receives treatment for gambling.
O'Connor, 66, once had a personal fortune that her attorney
estimated between $40 million and $50 million, inherited from her husband of 17
years, Robert
O. Peterson, founder of the Jack
in the Box Inc. fast-food chain. She is now virtually broke, living with
a sister.
Read more: http://www.sfgate.com/news/us/article/Ex-mayor-s-1-billion-gambling-woes-stun-San-Diego-4281090.php#ixzz2L2jBBIBZJack had no time for questions.
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