Sunday, October 19, 2008

Bank Gave Rezko Special Deal On Obama Property

It seems that Barack "I am not a crook" Obama had some help when he bought his new house.

A former Illinois bank official, now claiming whistleblower status, says bank officials replaced a loan reappraisal that he prepared for a Chicago property that was purchased by the wife of now-convicted felon Tony Rezko, part of which was later sold to next-door neighbor Barack Obama.

In a complaint filed Thursday in the Circuit Court of Cook County, Kenneth J. Connor said that his reappraisal of Rita Rezko's property was replaced with a higher one and that he was fired when he questioned the document.

Mr. Connor, a real estate and commercial credit analyst at the Mutual Bank Corp. in Chicago, also noted in the complaint that the bank received a grand jury subpoena in October 2006 requiring it to produce information concerning Mrs. Rezko's purchase, including the bank's files on the property.
Needless to say, there have been a few critics of Mr. Obama's dealings with his close friends the Rezkos.
Critics of Mr. Obama's dealings with Rezko charge that the senator may have gotten a deal on his property purchase, noting that Mrs. Rezko paid the full asking price for her property on an adjacent lot. Both of which were sold by a single seller. Mr. Obama bought his house for $1.65 million - $300,000 below the asking price.

When the property was sold, Mr. Obama knew Rezko was under investigation on fraud charges.

The complaint said the Rezko loan was approved by Mutual Bank President and CEO Amrish Mahajan and others so that Mrs. Rezko could buy a 9,090-square-foot vacant parcel of real estate. It said that in January 2006, Mrs. Rezko and Mr. Obama, along with his wife Michelle, signed an agreement to sell a 10-foot strip of the property to the Obamas. At that point, according to the complaint, Mr. Connor's firm asked him to conduct the reappraisal.
And how about Mutual Bank Corp. President Amrish Mahajan?
A Chicago banker whose wife is accused of bilking millions from a no-bid state contract has helped raise more than a half million dollars for Gov. Rod Blagojevich's campaigns since 2001.

Amrish Mahajan was a driving force behind his wife's drug-screening company, now facing questions about how it kept its long-standing state contract despite troubles with taxes, licensing and years of alleged fraud.A review of records and dozens of interviews reveal the company was built on Mahajan's deep Chicago political connections and its government business grew along with his reputation as a power broker in the city's Indian community.

He has been neither charged nor implicated in the fraud case.

Mahajan, 60, the president of Mutual Bank, is courted by city and state politicians as a man who can deliver support and money. He is referred to as "Uncle Amrish" by the businessmen who line the predominantly Indian corridor along Devon Avenue, by his bank customers, and even by one of the governor's children.

Mahajan's ties to Blagojevich run deep--including hiring the Democratic governor's wife last year as a real estate agent on $5.7 million in private land deals.

Blagojevich has acknowledged the family friendship with the Mahajans. But he has attempted to distance himself since a Tribune report last year revealed the real estate deals involving Blagojevich's wife, Patricia.

"I know Amrish," Blagojevich said last week. "There is no relationship now."
No doubt he is not the Amrish Blagojevich once knew.

So what is the bottom line on all this? It is fairly simple. Do you want to put the Chicago mob in charge of the Federal Government? A mob that wants you to share your wealth with them. Or else.

H/T No Quarter


Headless Blogger said...

M. - One thing that everyone should see is an image of the Obama-Rezko estate. I put the Google satellite image at my blog. The image makes clear that these were not two separate and adjoining lots. It is one property that was titled to two different parties - the Obama's and Mrs. Rezko.

Neil said...

Hey Simon,

Maybe now is a good time for a "greatest hits" post of Obama's worst sayings. You know, like:

"We can't... eat as much as we want..."

"...spread the wealth..."