Ex-San Diego Mayor Lost $1 Billion Gambling; Took $2 Million From Non-Profits To Feed Addiction
Maureen O’Connor lost more than $1 billion during an 8-year period.
O’Connor, 66, appeared in federal court and pleaded not guilty to a money laundering charge as part of a deferred prosecution. Under the arrangement with federal prosecutors, she has two years to repay the $2 million taken from the R.P. Foundation, a nonprofit set up by her late husband, Robert O. Peterson.
Peterson was the co-founder of the Jack-In-The-Box restaurant chain and later Southern California First National Bank Corp., which eventually became part of the Union Bank empire.
Prosecutors said O’Connor, who is in poor physical health, had $1 billion in gambling winnings between 2000 and 2008, but she posted losses during the same period that were greater than that amount. They described her as “destitute.”Click here for reuse options!
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