FDIC Mutual Bank lawsuit reveals Rezko Obama corruption, Kenneth J. Conner lawsuit, Amrish Mahajan, Richard Barth, Where did Rezkos get the money?

FDIC Mutual Bank lawsuit reveals Rezko Obama corruption, Kenneth J. Conner lawsuit, Amrish Mahajan, Richard Barth, Where did Rezkos get the money?

“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

“Where did Rita Rezko get the money to buy the lot she sold to Barack and Michelle Obama?”…Citizen Wells

Here is what we know about the purchase of a lot by Barack and Michelle Obama from Rita Rezko in 2006:

1. “In June, 2005, Mutual Bank President and CEO Amrish Mahajan and
other Mutual Bank officers approved a loan to Rita Malki Rezko (Rita
Rezko) which was guaranteed by Antonin Rezko so that Rita Rezko could
purchase a 9,090 square foot vacant parcel of real estate at 5050 S.
Greenwood Avenue, Chicago.” (Conner lawsuit)

2. “On or about January 4, 2006, Rita Rezko entered into an
agreement with Senator Barack and Michelle Obama (Obamas) to sell a
ten-foot strip of the 5050 S. Greenwood property to the Obamas.”
(Conner lawsuit)

3. “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 and that a reasonable and fair valuation for
Mutual Banks’s underwriting purposes should be no greater than $
500,000.00 for the entire 5050 S. Greenwood parcel as originally
purchased by Rita Rezko.” (Conner lawsuit)

4. “On or about October 19, 2006, Mutual Bank received a Grand Jury
Subpoena (GJS) requiring Mutual Bank to produce the Rezko 5050
Greenwood loan file, as well as a Rita Rezko Riverside District
Development LLC checking account and loan file.” (Conner lawsuit)

5. “In October, 2007, Conner had various communications with Mutual
Bank’s Human Resources Department representative, Lana Schlabach. In
an email communication of October 15, 2007, Conner directly referenced
“Resentment over my mentioned discovery of the removal/replacement of
an appraisal review that I conducted. That appraisal review contained
substantial observations and suggestions. The transaction and parties
involved were high profile in the media.I am under the impression that
the FBI has since looked at the file.”” 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 lawsuit)

6. “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 lawsuit)

7. The FDIC has filed a lawsuit against Mutual Bank, Amrish Mahajan, Richard Barth, et al.
From Citizen Wells October 31, 2011.

“The FDIC is suing eight former directors, two officers and the bank’s lawyer.

The failure of the $1.7 billion-asset bank, which had 10 branches in
the Chicago area, is expected to cost the FDIC $775 million. From 2005
to 2009, the lender had nearly doubled in size, fueled by what would
turn out to be bad real estate loans, many of which were made to about
15 borrowers. Record-keeping was shoddy, and loan terms were changed
at closing with no board approval, the suit said. Mutual had become a
“lender of last resort for failed real estate projects,” particularly
in the hotel industry, the suit said.

One of the defendants, former bank president and board member Amrish
Mahajan, couldn’t be reached for comment.”
“5. Collectively, the Director Defendants and Officer Defendants
(“Director and Officer Defendants”) (a) recklessly implemented a
strategy of rapid asset growth through approving a high concentration
of risky CRE, ADC and out-of-area loans to a small concentration of
high-volume borrowers; (b) failed to implement appropriate
underwriting and credit administration practices; (c) ignored the
Bank’s loan policies; (d) ignored federal lending regulations; and (e)
disregarded warnings from the Bank’s regulators regarding the Bank’s
lending activities.”
8. The Rezko’s were deeply in debt. Where did they get the money to purchase the lot?

From the Real Barack Obama April 1, 2008 by Brenda J. Elliott.

“Weeks earlier, on February 10, 2008, RezkoWatch posted a lengthy
article in which was discussed the fact that Rita Rezko purchased the
lot for the full asking price of $625,000.00, with a downpayment of
$125,000.00 and the $500,000.00 balance financed with the Mutual Bank
of Harvey, Illinois, which is owned by Amrish Mahajan, who had loaned
millions of dollars in financing for Tony Rezko’s real estate

It is also important to note that Sreenan, who handled the transaction
for Rita Rezko, “said that the lot was attractive to developers and
that the Rezkos had to outbid others to buy it.”

Complicating the matter is the fact that the January 26, 2008, Motion
for Issuance of an Arrest Warrant in United States of America v.
Antoin Rezko showed that in November 2006 Tony Rezko had submitted
documentation “detailing his assets and liabilities” to the Court. On
November 2, 2006, Rezko’s counsel sent a letter to the Court which
stated “that it was ‘abundantly clear’ that [Rezko] ‘has no income,
negative cash flow, no liquid assets, no unemcumbered assets, is
significantly in arrears on many of his obligations … and has been
forced to rely on family friends for financial assistance.’” Rita
Rezko only “had a salary of $37,000, but no other significant assets.”

In fact, on October 20, 2006, when Tony Rezko made his second court
appearance following his indictment, it was reported that Rezko had
“fallen tens of thousands of dollars behind in mortgage and property
tax payments. The lender filed suit to take back the big place.” Not
only were the Rezkos broke, but Tony Rezko was about $50 million in

As RezkoWatch wrote on February 10, 2008, this leads to the question
of where Rita Rezko obtained the $125,000.00 downpayment to purchase
the lot, as the source is not stated. Additionally, as this debt—the
$125,000.00—is not listed among Rita Rezko’s liabilities in October
2006, it suggests that the loan had been paid off.”


31 responses to “FDIC Mutual Bank lawsuit reveals Rezko Obama corruption, Kenneth J. Conner lawsuit, Amrish Mahajan, Richard Barth, Where did Rezkos get the money?

  1. Herman Cain admits settlement was made over sexual harassment claims

    Republican frontrunner says there was ‘some sort of settlement’ to women who complained of inappropriate behaviour.

    Herman Cain, one of the frontrunners in the Republican race for the White House, faces more questions over allegations of sexual harassment after making contradictory comments within the space of just a few hours.

    He dismissed allegations of sexual harassment against him as a “witch hunt” but failed to quell the clamour that grew during Monday.

    Over the course of two public appearances before the media and a series of television interviews on Monday, Cain went from initially saying he was unaware of any of the women receiving settlements over the claims to later admitting there had been a settlement.

    On Sunday night, Politico revealed that two female employees of the National Restaurant Association had received payouts after making harassment claims against Cain while he was the organisation’s president.

    According to Politico, the women left the association after complaining about inappropriate behaviour by Cain that made them angry and uncomfortable. They reportedly received settlements in return for signing non-disclosure agreements.

    In his first comments, Cain confirmed that he had been the subject of sexual harassment complaints involving two female workers in the restaurant industry‚ but said he had been “falsely accused”.

    In the morning, he had described the claims as “trumped up” and said he was “unaware of any sort of settlement. I hope it wasn’t for much, because I didn’t do anything”.

    But in interviews broadcast on Monday night, he admitted there had been “some sort of settlement or termination” and it had been worth maybe two or three months’ salary.

    Cain initially played down the alleged incidents but in later interviews he began to fill in some of the details. He told PBS: “I referenced this lady’s height, and I was standing near her, and I did this saying: ‘You’re the same height of my wife,’ because my wife is five feet tall, and she comes up to my chin. This lady’s five feet tall, and she comes up to my chin. So obviously she thought that that was too close for comfort.”

    On Monday, Cain refused to answer questions about the claims during an appearance at the American Enterprise Institute in Washington. He then gave an interview to Fox News in which he said: “I have never sexually harassed anyone, and, yes, I was falsely accused while I was at the National Restaurant Association. And I say falsely, because it turned out after the investigation to be baseless.”

    Later, during an appearance at the National Press Club in Washington, Cain repeated his denials, saying: “In all of my over 40 years of experience running businesses and corporations I have never sexually harassed anyone.”

    Suggesting the story had come out now as a response to his popularity in the Republican leadership contest, Cain added: “This bullseye on my back has gotten bigger. We have no idea of the source of this witch hunt.”

    During his National Press Club appearance, Cain gave a little more detail about the complaints, saying that as president of the association he had “recused” himself from the investigation, and left it to the lawyers and a human resources official. He said they had “concluded after a thorough investigation that it had no basis”.

    But soon after Cain’s comments, Politico published another story detailing how the association’s HR chief at the time, Mary Ose, had told the website last week that she was unaware of any allegations about Cain’s behaviour. A reporter spoke to her again on Monday to ask about Cain’s insistence that HR officials had run the investigation, to which Ose responded: “You and I have talked and I have nothing more to say.” She then put the phone down.

    Cain’s apparent failure to address the allegations head-on will ensure that journalists keep pushing until they find more details of the accusations, including how much was paid to the women, and who authorised any settlement. That could be even more damaging for Cai


  2. Citizen Well,
    I find it more and more unbelievable that Obama’s past was never really discussed as it pertains to the hospital planning board, Rezco, and property. Further, it’s almost as unbelievable that his Wife’s past, and the loss of her law license is also not discussed. However, I am certain that anything Cain every said to a woman, that offended her, will be public in a matter of days. ROFLOL, can it get anymore corrupt!!!! The rabbit hole is so deep.

  3. http://illinoiscarry.com/forum/index.php?showtopic=8164

    Please read the attached article and keep in mind that Blagojevich hired Eric Holder to investigate possible “mob ties” in Illinois casino gambling…Chris Kelly recieved an “undisclosed” amount from Nadmi Auchi…Chris Kelly was Blagojevich’s “point man” on gambling issues, also his chief fundraiser/bagman…Maybe Eric Holder should have been investigating possible “war criminals” ties instead…

    This has alway’s bothered me…WHY did Blagojevich “hire” Eric Holder??? With the millions of lawyers in the country…WHY HOLDER???

  4. Pete; When ever there is a “big” story in the news, we have to search for the little ones that Obama and his administration don’t want us to see…The “Cain” story is just a fireworks display to distract us from anything “Rezko”…I look forward to the “fireworks display” he has planned for November 22, & 23, the sentencing dates of Rezko and his partner Daniel T. Frawley…I’m sure they will be grand and memorable.

  5. It is utterly nonsense that the media is going on and on after Herman Cain over this non-scandal when they won’t investigate Obama on anything. Not Obama’s 57 states statement, not his confusing Social Security numbers, not his college application, or lack of law degree, not his role in fast and furious, not his BC, not the allegations by Larry Sinclair, etc. People should be protesting the media and not wall street. The next protest should be to demand that the press tell the truth. There should be an Occupy CNN and MSNBC. Herman Cain has made many mistakes lately that people can and should go after him on, but this non-scandal is idiotic.

  6. Herman Cain should use the opportunity on TV over this non-scandal to ask CNN why they are not investigating Obama’s potentially false social security number of lack of law degree or college application.

  7. seaque2 | November 1, 2011 at 10:58 am |

    You seem to be relishing the allegations made against Cain. I suppose Weetie is, too. Both of you are avid supporters of rival, Ron Paul. I’m like Paxson, write all you want to about your candidate, but it is not necessary to drag Cain in the mud as you seem to enjoy doing and ultimately trying to boost your man.

    As far as Cain is concerned, it has been fifteen years ago, and it was not that big a deal for a man in the leadership position of a large organization.
    These allegations are made quite frequently in the workplace and usually they are baseless as far as any real violations are concerned.

    Politico also reported the confirmations of several of Cain’s associates at the restaurant association that he would never indulge in true sexual harassment. Most every conservative agrees (and some liberals) that this has the smell of a smear campaign.

  8. My question is who tried this hit job on Cain? Ron Paul has been sinking in the national polls while Cain has been rising. Ron Paul said in one of the debates that he wanted to be in the top 2 after briefly enjoying the top 3 spot in the national polls. But he’s been down in the numbers as of lately. Rick Perry has been sinking too as Cain has been rising, and of course Obama or Karl Rove, or any of the other GOP contenders could have put this hit on Cain. I doubt Newt would have done it because Newt and Cain are actully good friends since they both are from Georgia, but who knows. Newt might the insider who knew of this story since he does know Cain well. I can’t tell. Either way, I hope Cain gets the person who did it back with his own oppo research. We should focus on the related issues, not something that happened over 10 years ago.

  9. Tina | November 1, 2011 at 11:16 am |
    Herman Cain should use the opportunity on TV over this non-scandal to ask CNN why they are not investigating Obama’s potentially false social security number of lack of law degree or college application.
    Tina, he probably wouldn’t do that, because they would then accuse him of deflecting from what he is being accused of; however, I’m with you – maybe something like the O’s use of a fraudulent social security number might shut up the media.

    Bob Beckel, who appears on Fox frequently as a liberal spokesman, is not someone I like, but he did make a suggestion for Cain that could work.
    (Beckel considers it a witchhunt, too, carried out by a rival Repub. He is knowledgeable about campaigns because he has run them in his earlier life.)

    Beckel’s suggestion is that Cain should call a news conference with all the news people invited, let them ask all the questions they desire, give them the answers, and then conclude by saying this is absolutely all that is going to be said on this matter. Subject closed.

  10. Meant to say Newt might be the insider who knew of this story on Cain since he knows Cain well. But I can’t say that really. Others could eaisly have launced this attack as well. Newt and Cain are going to debate so there’s something up with these two. I don’t know what Newt is trying to do with the debate with Cain, either help Cain or hurt Cain. And I don’t know what Cain is trying to do with debating Newt either trying to pass the baton to Newt to help him or to get more practice, etc. Either way these two have known each other for years so there’s something going on with them. Newt said you have to know stuff. I think that was a swipe in Cain’s direction.

  11. Cabbie – It just amazes me what the media makes a story out of. This story on Cain to me is a non-issue as is the Occupy Wall Street movement a non-issue. The press has made this into a movement where they totally ignored the Tea Party march on Washington, D.C. They wouldn’t cover any of the Tea Party events in cities all over the country or gave them 30 second coverage and dropped the coverage the next day. It makes me furious.

  12. Sorry. I meant, Cabby.

  13. Sherrif Joe Arpaio’s ‘Cold Case Posse” has just published it’s findings:

    1.They have decided the entire roll of microfish film on which Obama’s “birth certificate” was taken must be examined. They noted the Noreakie twins numbers are out of secquence to Obama’s BC. They also commented on Obama’s fake SS numbers, more to come on that.

    2. The posse also wants to see the “original pen-and ink birth certificate” for Mr. Obama which is suppose to be on file on Hawaii. What happens when they find that no original bc is on file for Mr. Obama in Hawaii? Your guess is as good as mine !

    It sure looks like if Mr. Obama is going to be on the ballot in Arizonia, he’s going to have to “come clean” on a lot of things, which I seriously doubt he can or will.

    I smell big, big trouble for Mr. Obama brewing in Arizona, which will spread throughout the land. What this will lead to, only God and the Chairman of the Joint Chiefs of Staff of the Armed Forces knows!

    Stay tuned folks, the road is going to get real bumpy for Mr. Obama. Hopefully, someone is going to make things right and put this country back under Constitutional law, at the same time put a whole lot of people UNDER the jail.

  14. Tina; when the main stream media hit’s you with a trivial titlewave you should ask yourself, why now? What do they not want me to see?
    This story is over 20 years old and they (the media) has been sitting on it for quite a while, waiting to release it at just the right time…They have a closet filled with these “non” stories, it’s NOT THE STORY it’s the TIMING of the story…

  15. http://www.suntimes.com/news/watchdogs/6394342-452/ex-rezko-partner-being-sentenced-tuesday.html

    Although ‘we’ don’t know when these “payments” from Rezko to Obama occured or the $1.5 million dollar payment….WE do know that the feds KNOW and have done nothing about it…I am willing to bet Rezko gave him this “payment” right around the purchase date of his house.

  16. “U.S. Representative and Staffers Continue to Ignore Obama’s Likely Crimes”

    “From: Redacted

    Sent: Sun 10/23/11 11:17 AM


    jennifer.han@mail… ; Margaret Tipton (Margaret.Tipton@mail…)

    Dear Ms. Han and Ms. Tipton,

    My attorney has requested that I send a complaint and a demand for investigation to my local elections board and Secretary of State and also file a complaint against Congresswoman Blackburn with the House Ethics Committee. This is what we are going to do. Believe me, all us true American Patriots will not stop until the corruption and cover-up by BOTH parties is uncovered and each and everyone of the criminals, this includes both of you and Congresswoman Blackburn, get the appropriate penalty for treason.”

    “Marsha Wedgeworth Blackburn[1] (born June 6, 1952) is the U.S. Representative for Tennessee’s 7th congressional district, serving since 2003. She is a member of the Republican Party.”

    “Are All Members of Congress Alike?”


    “The following letter was sent by certified mail to Rep. Aaron Schock of Illinois’s 18th Congressional District on October 31, 2011: …”

    “Aaron Schock (born May 28, 1981) is the United States Representative for Illinois’s 18th congressional district, serving since 2009. He is a member of the Republican Party.”


  17. The Cellini verdict will be read at 12:00 noon today…

  18. Gordo, a number of months ago I wrote a letter to over thirty Republican senators expressing my grave concern over the many offenses committed by Obama (I purposely stayed away from the birther and social security no. issues). It was a polite, but firm and sincere letter. I heard from about two of them (via staff), and neither one addressed the issue at hand. They confused it with something else completely unrelated.

    My two senators were among the non-responders. This is most unusual and indicates to me a concerted effort by the Repubs to keep the lid on Obama’s offenses as much as possible when it comes to taking any REAL action. Let’s just see how far Fast and Furious goes – also Solyndra and all of the other bad loans to green companies. I am not holding my breath.

  19. >>>Tina
    My question is who tried this hit job on Cain? <<<

    Here is my speculation. The DNC is behind it. They have the most to gain by eliminating any true conservatives from the Republican nomination. They already know they have no chance for re-election of Obama, and it's going to be hard to bait and switch to Hillary, so they would rather have a liberal leaning republican POTUS then a conservative after 2012 elections. Look for the RINO to benefit most, but the DNC and PTB are afraid of Cain.


  20. Cabby…..do you think the reason you got a “Non Responsive” reply from all the republican senators is simply because they are as guilty as Obama when it comes to corruption?

    I have personally come to the conclusion that there is not ONE politician in Washington that can spell the word integrity…let alone know it’s meaning. And HONESTY….that word isn’t in anybody’s dictionary.

    It’s time for the people to have a HOUSE CLEANING …..maybe the next election will remind everyone that “WE THE PEOPLE” are still in charge of our country…..at least for a while longer.

  21. Mr. Bill(ms. helga)

    OT – But same subject – FRAUD
    A little test –
    Jon Corzine – Former President of Goldman Sachs
    Former Democrat Governor of New Jersey
    Former Democrat U.S. Senator of New Jersey
    Presently President of MF GLOBAL, which is MISSING 700
    Million Dollars
    WHAT DOES “MF” stand for??

    PS – The Dow Jones Industrials have lost over 500 points in 2 days.


  22. Mr. Bill(ms. helga)

    But,but, but, Herman Cain is the most dangerous man in America!!!

  23. seaque2 | November 1, 2011 at 10:58 am | Herman Cain admits settlement was made over sexual harassment claims

    Sorry, you got that wrong. Go listen to the details….unless you don’t wish to have your wishful thinking interfered with by the facts of the situation.

  24. rminnc | November 1, 2011 at 1:27 pm |
    Cabby…..do you think the reason you got a “Non Responsive” reply from all the republican senators is simply because they are as guilty as Obama when it comes to corruption?
    rminnc, I’ve thought much about the silence. Just recently when Dr. Orly Taitz came back from her visit to Washington and her contact with a number of offices of congressmen/senators, she assured everyone that “they all know just about everything we know”. In her opinion, I believe, she expressed that there was fear almost universally.

    So, we could ask, “Fear of what?” We do know that there is widespread corruption in both parties, so, perhaps, some ARE afraid of personal exposure. However, I have read from other sources that it is reported that they fear a backlash from the blacks and other Obama supporters.
    Frankly, I personally think that is an excuse to avoid something which could be very unpleasant.

    Actually, my present opinion is that there are varying reasons, but underscoring the personal character of most in Congress is COWARDICE.
    No one wants to be the one to rock the boat – to have to take the brunt of the full force and fury of the media if they were to do the right thing. They are thinking mainly of their own personal political careers and are unwilling to do what is RIGHT, i.e., to do what is necessary to save the Republic.
    The closer we get to election the less desire any Repub has to expose Obama. This is deplorable and it is a tragedy.

  25. Pingback: Obama corruption ties slowly grind in wheels of Justice, Rezko Mutual Bank Mahajans, Kenneth J Conner whistleblower, FDIC lawsuit, Blagojevich prosecution | Citizen WElls

  26. Pingback: Obama land deal loan president Mahajan FDIC lawsuit, Status hearing, July 19, 2012, Judge Virginia M. Kendall, Rezkos sold lot to Obamas | Citizen WElls

  27. Pingback: Obama wheels of justice turn slow or stop, FDIC lawsuit against Amrish Majahan Mutual banck, Rezko loan for Obama lot, Kenneth J. Conner lawsuit | Citizen WElls

  28. Pingback: Obama Rezko lot transaction bank president Mahajan FDIC lawsuit, Motion hearing, October 25, 2012, Judge Virginia M. Kendall, Rezkos sold lot to Obamas | Citizen WElls

  29. Pingback: Obama Rezko lot transaction bank president Mahajan FDIC lawsuit, Motion hearing, June 12, 2013, Judge Virginia M. Kendall, Rezkos sold lot to Obamas, Ghosts of Obama’s past | Citizen WElls

  30. Pingback: Obama related corruption cases alive, Blagojevich appeal and FDIC v Mutual Bank Amrish Mahajan et al, Tony Rezko corruption cronies, Thursday May 29, 2014 1:11-cv-07590 FDIC case magistrate status hearing and motion hearing | Citizen WElls

  31. Pingback: Obama Rezko lot purchase bank still in news, FDIC v Mutual Bank Amrish Mahajan et al, June 16, 2014, Magistrate status hearing and motion hearing, Tony Rezko corruption cronies | Citizen WElls

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