Obama Rezko Chicago corruption ties news making but hidden, Mutual Bank v Mahajan update, August 30, 2012, Judge Kendall motion ruling, Obama 2005 tax return
“Why is news about the FDIC lawsuit, Mutual Bank v. Mahajan, the bank that loaned the Rezkos money for the Obama lot, so hard to find?”…Citizen Wells
“Why did Obama switch to Harvey Wineberg’s firm to have his 2005 tax return prepared?”…Citizen Wells
“Why did Mutual Bank fire whistleblower Kenneth J Connor after he challenged the appraisal on the land purchased by Rita Rezko, just prior to the land sale to Obama?”…Citizen Wells
There are 3 cases I have been checking on daily.
1. The status of the Blagojevich appeal.
2. The status of the Kenneth J. Conner whistleblower lawsuit.
3. The staus of the FDIC Mutual Bank lawsuit against Amrish Mahajan, et al.
All of the above reveal Obama Chicago corruption ties.
My daily activities include checking the docket for the US District Court Northern District Illinois, the courts of the Rezko and Blagojevich prosecutions and FDIC Mutual Bank lawsuit. By doing so, I discovered the following hearing.
The FDIC lawsuit against Amrish Mahajan, former president of Mutual Bank, et al is scheduled for a status hearing in the courtroom of Judge Virginia M. Kendall on July 19, 2012. Mutual Bank loaned Rita Rezko the money for the lot that was purchased by the Obama’s. It is also the bank that fired whistleblower Kenneth J. Conner after he questioned the appraisal of that lot.
Thursday, July 19, 2012 (As of 07/12/12 at 06:48:37 AM )
Honorable Virginia M. Kendall Courtroom 2319 (VMK)
1:11-cv-07590 Federal Deposit Insurance Corporatio 09:00 Status Hearing
After doing some more digging, I discovered that Judge Kendall had ruled on the motion to dismiss. More later on why I had to dig.
Mutual Bank v. Mahajan
Case Number: 1:11-cv-07590
“In May 2005, the Illinois Department of Financial and Professional Regulations (the “IDFPR”) conducted an examination of the Bank and delivered its report to the Board on June 10, 2005. That report warned the Board that its high concentration in hotel loans carried more risk than other properties, and that many of the loans the Bank extended were inappropriately based on
projections rather than historical data and/or had collateral consisting of distressed properties. The 2005 report also noted that many of the properties securing gas and convenience store loans were difficult for the Bank to monitor for collateral purposes as they were outside the Bank’s immediate
market area. As a result of the 2005 report, IDFPR regulators made several recommendations to manage risk, yet these recommendations were not followed by the Bank.”
“In May 2006, the FDIC investigated the Bank and delivered its report to the Board on July 29, 2006. The 2006 report again raised concerns about the Bank’s risk management, record asset growth, and lack of increase in staffing to keep pace with the increase in the loan portfolio. The 2006 report also stressed the geographic dispersion of properties subject to loans, and potential
flaws with asset quality. As with the 2005 report, the 2006 report made recommendations to enhance risk management which were again not followed by the Bank.”
The Obama 2005 tax return is interesting.
From Citizen Wells August 14, 2012.
“Read the following sequence of events and decide for yourself if it looks suspicious.
Lawrence A. Horwich & Associates prepared the Obama’s 2004 tax return.
June 15, 2005: Obama purchases home next door to Rezko for $1.65 million, $300,000 less than the asking price.
June 15, 2005: Rita Rezko, Tony’s wife purchased plot next door for $625,000 asking price.
Late 2005 early 2006: From the Kenneth J. Conner complaint against Mutual Bank filed Oct. 16, 2008. The lawsuit is still active.
“11. In late 2005 or early 2006, Conner performed an appraisal review of the Adams Appraisal (Exhibit C) per the directive of Richard Barth and James Murphy. Conner prepared a written Appraisal Review report (ARR) opining that the Adams Appraisal overvalued the Greenwood lot by a minimum of $ 125,000.00″
“18. On October 23, 2007, eight days after Conner’s October 15, 2007 email to Schlabach attached as Exhibit J, Mutual Bank terminated Conner’s employment for pretextual reasons.”
Conner later told World Net daily when he initially was fired, that the bank and the Rezkos were engaged in “fraud, bribes or kickbacks, use whatever term you want,” to benefit the Obamas.
Soon after the Blagojevich arrest, Conner was interviewed by investigators from Fitzgerald’s office.
Jan. 2006: Rita Rezko sells the Obamas one-sixth of her lot for $104,500.
Harvey Wineberg’s firm prepared the Obama’s 2005 tax return.
Harvey Wineberg is on the Obama house deed.
“WND reported in December 2008 that William Miceli, the attorney for convicted political operative Tony Rezko and a fundraiser for Obama, owns the Obama home at 5046 S. Greenwood.
Miceli is a lawyer at the Chicago law firm Miner, Barnhill & Galland, which employed Obama when he did legal work for Rezko.”
“Now, a search of records shows that, in addition to Miceli, the Obama mansion is owned by Chicago Probate Judge Jane L. Stuart and Obama accountant Harvey Wineberg, both of whom are paying taxes on the property.”
December 09, 2010
The President also announced his intent to appoint Harvey S. Wineberg as a Member of the President’s Advisory Council on Financial Capability. His biography is below.
By the way, Harvey Wineberg was the Treasurer of Obama’s 2004 Senate campaign and a bundler for Obama’s 2008 campaign.”
Obama Chicago corruption ties are still news makers, they are just not making the news.