Chris Wade
Encyclopedia
Christopher "Chris" Wade is a former Whitewater
real estate
broker
. He is currently retired, and his son Chris Wade, Jr. is the broker/owner of Ozarks Realty Company in Flippin, Akansas.
Chris Wade was the real estate broker for Jim McDougal
and Bill Clinton
for the Whitewater Development Corporation
. He sold the lots for the Clintons and McDougals. He ended up buying some of the land from them. In 1985, Jim McDougal traded the few remaining Whitewater lots to Chris Wade for an air and the assumption of $35,000 in bank debt to 1st Ozark. The Clintons and McDougals were still personally obligated on the note. He came into front page national news as a result of the Whitewater investigations.
violation for making a false report to overvalue property influencing a Bank, S&L
, or a federal agencies-bankruptcy fraud to the Whitewater special prosecutor
, Kenneth Starr
. He was sentenced to 15 months in fraud
.
to Chris Wade. See: Bill Clinton pardons controversy
.
Whitewater (controversy)
The Whitewater controversy was an American politics controversy that began with the real estate investments of Bill and Hillary Clinton and their associates, Jim and Susan McDougal in the Whitewater Development Corporation, a failed business venture in the 1970s and 1980s.A New York...
real estate
Real estate
In general use, esp. North American, 'real estate' is taken to mean "Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; an item of real property; buildings or...
broker
Broker
A broker is a party that arranges transactions between a buyer and a seller, and gets a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal...
. He is currently retired, and his son Chris Wade, Jr. is the broker/owner of Ozarks Realty Company in Flippin, Akansas.
Chris Wade was the real estate broker for Jim McDougal
Jim McDougal
James B. "Jim" McDougal , a native of White County, Arkansas, and his wife, Susan McDougal , were financial partners with Bill Clinton and Hillary Rodham Clinton in the real estate venture that led to the Whitewater political scandal of the 1990s...
and Bill Clinton
Bill Clinton
William Jefferson "Bill" Clinton is an American politician who served as the 42nd President of the United States from 1993 to 2001. Inaugurated at age 46, he was the third-youngest president. He took office at the end of the Cold War, and was the first president of the baby boomer generation...
for the Whitewater Development Corporation
Whitewater Development Corporation
The Whitewater Development Corporation was a failed business venture of James and Susan McDougal with Bill and Hillary Clinton. The business was incorporated on June 18, 1979, with the purpose of developing vacation properties on 230 acres of land along the White River near Flippin, Arkansas.-...
. He sold the lots for the Clintons and McDougals. He ended up buying some of the land from them. In 1985, Jim McDougal traded the few remaining Whitewater lots to Chris Wade for an air and the assumption of $35,000 in bank debt to 1st Ozark. The Clintons and McDougals were still personally obligated on the note. He came into front page national news as a result of the Whitewater investigations.
Guilty plea
Chris Wade entered a guilty plea of one felonyFelony
A felony is a serious crime in the common law countries. The term originates from English common law where felonies were originally crimes which involved the confiscation of a convicted person's land and goods; other crimes were called misdemeanors...
violation for making a false report to overvalue property influencing a Bank, S&L
Savings and loan association
A savings and loan association , also known as a thrift, is a financial institution that specializes in accepting savings deposits and making mortgage and other loans...
, or a federal agencies-bankruptcy fraud to the Whitewater special prosecutor
Special prosecutor
A special prosecutor generally is a lawyer from outside the government appointed by an attorney general or, in the United States, by Congress to investigate a government official for misconduct while in office. A reasoning for such an appointment is that the governmental branch or agency may have...
, Kenneth Starr
Kenneth Starr
Kenneth Winston "Ken" Starr is an American lawyer and educational administrator who has also been a federal judge. He is best known for his investigation of figures during the Clinton administration....
. He was sentenced to 15 months in fraud
Fraud
In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation...
.
Pardon
With just hours to go in his presidency, Bill Clinton issued pardonPardon
Clemency means the forgiveness of a crime or the cancellation of the penalty associated with it. It is a general concept that encompasses several related procedures: pardoning, commutation, remission and reprieves...
to Chris Wade. See: Bill Clinton pardons controversy
Bill Clinton pardons controversy
President Bill Clinton was criticized for some of his pardons and acts of executive clemency. While most presidents grant pardons on several days throughout their terms, Clinton chose to make most of them on January 20, 2001. Collectively, the controversy surrounding these actions has sometimes...
.