Disgraced San Antonio lawyer Chris Pettit's mansion just got a $201,000 price cut

After sitting on the market for nearly a year, a distinctive coliseum-style mansion built into a hill overlooking Olmos Basin has undergone a $201,000 price cut, its listing shows.  

The 6,500-square foot property was once the residence of former attorney Christopher “Chris” Pettit, who last month pleaded guilty to federal wire fraud and money laundering charges. Late last year, in the midst of Pettit's legal woes, the home went on the market for just under $4 million.

Earlier this year, the asking price for the multi-level dwelling dropped to $3.2 million, and just under two weeks ago, it was slashed again, bringing its current tag down to $3 million.

In October, Pettit pleaded guilty to three counts of wire fraud and three counts of money laundering after federal authorities accused him of running a "Ponzi-type" scheme. Investors thought they were putting money into investments or real estate but lost a total of $25 million to $65 million by trusting Pettit with their money, according to a statement from the U.S. Attorney's Office for the Western District of Texas.

Since being designed by Tom Pressley and built by San Antonio construction firm Bartlett-Cocke in the mid 1980s, Pettit's former home has also been occupied by ex-San Antonio Spur Brent Barry and the late philanthropist Joci Straus.

This home is listed by Frederick Hutt with Compass RE Texas, LLC.

All photos and listing info via Realtor.com.