Obama Chicago corruption ties don’t die, Iraqi billionaire Nahdmi Auchi tied to Obama and Rezko owns lot Chicago wants to develop, Mahajan FDIC lawsuit still alive, Obama Rezko lot transaction
“GE obtained a court judgment against Rezko in November 2004 for the $3.5 million it said was outstanding on its loans, but the company put collection efforts on hold during the first half of 2005 as it negotiated with Rezko, court records show.”…San Francisco Chronicle March 3, 2008
“Why did the Rezkos enter into an agreement to purchase the lot next to the Obama house and pay the asking price of $ 625,000 at a time when they were broke and heavily in debt?”…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
Do not believe the lies that you have been told about the Obama Rezko lot transaction.
Tony Rezko and his wife, with the help of Iraqi billionaire Nahdmi Auchi, with the help of Mutual Bank president Amrish Mahajan, made the lot transaction work for the Obama’s.
From the Chicago Tribune July 10, 2013.
“City aims to jump-start Near South Side development
Land controlled by billionaire once linked to convicted influence peddler Tony Rezko”
“The city is trying to kick-start development of vacant 62-acre parcel near downtown controlled by a controversial Iraqi billionaire once linked to convicted Democratic influence peddler Antoin “Tony” Rezko.
A city development panel on Tuesday recommended giving Mayor Rahm Emanuel’s administration authority to buy the parcel just west of Dearborn Park on the Near South Side. If the City Council signs off, officials would have the authority to go to court to force a sale. That would take place if Luxembourg-based General Mediterranean Holding SA, which controls the Riverside District LLC that owns the site, was reluctant to sell to a developer, city officials said.
General Mediterranean is led by Nahdmi Auchi, an Iraqi billionaire living in London who was a onetime business partner of Rezko, city officials said. Auchi once made a $3.5 million payment to Rezko while Rezko awaited trial on the fraud charges that landed him in prison.
Auchi’s conglomerate in 2005 paid $130 million for the site, although Housing and Economic Development Assistant Commissioner Robert McKenna said an assessment needs to be done before the land’s current value can be determined. General Mediterranean acquired the site from Rezmar Corp., which was owned by Rezko and former partner Daniel Mahru.”
A tax increment financing district was formed in 1997 to help develop the site, but nothing was ever done with the property in part because of the controversy surrounding its owners.”
From Citizen Wells July 10, 2013.
“The FDIC lawsuit against Amrish Mahajan, former president of Mutual Bank, et al is scheduled for a motion hearing in the courtroom of Judge Virginia M. Kendall on July 10, 2013. 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.”
“The Obama camp, with the full cooperation of the mainstream media and US Justice Dept., has done their best to distance Obama from his numerous close corruption ties in Chicago and Illinois. The delayed and dragged out prosecution of Rod Blagojevich with his mutual ties to Tony Rezko, the failure to call Rezko as a witness and the dropping of counts against Blagojevich that are most damning for Obama, is one good example.”
“Not only was Mahajan a member of Rezko’s bundling network; his bank, the Mutual Bank of Harvey, granted Rita Rezko the $500,000 mortgage she neededin order to purchase the lot on which the Obama mansion in Chicago sits. As many of you may recall, the Obamas could not have purchased the mansion they could not afford unless transactions for the mansion and the lot closed on the same day. Obama needed to locate someone who would buy the lot, and he approached Rezko, the convicted slumlord with whom Obama toured the property before they mutually agreed to the following arrangement:”
“The Mutual Bank of Harvey, of course, for the Mutual Bank of Harvey’s President is a man who is deeply connected to the Chicago machine that backed Barack Obama. Indeed, Amrish Mahajan was one of Mayor Daley’s first political appointments in 1989, when he was named to a seat on Chicago’s Plan Commission, where he would be joined by Obama’s former boss and Rezko’s business partner Allison Davis and by Valerie Jarrett, Daley’s Chief of Staff whochaired the Commission from 1991-1995. Mahajan, in other words, worked with those who devised and profited from Daley’s failed public housing experiment in Chicago, a public housing policy Obama helped fund as state Senator and US Senator.”
Tony Rezko was deeply in Debt. His wife’s salary was $ 37,000.
Rezko received a loan of 3.5 million from Auchi on May 23, 2005.
From the UK Guardian via WikiLeaks December 18, 2008.
Norman Lamb said he was concerned about how the libel laws act as a constraint on investigative reporting and referred to the case of the British Iraqi billionaire Nadhmi Auchi.
He said: “He is a British citizen – an Iraqi exile – and he is reported to be a multibillionaire. He was convicted in France in 2003 of fraud in a trial involving the oil company Elf. Importantly, he continues to assert his innocence of the charges – there was a conviction, but he is pursuing routes of appeal against it. He was barred from entering the United States in 2005.
“My interest in the matter is in his connections to Tony Rezco, who was convicted of fraud, money laundering and bribe-related charges in Illinois, and who is currently in prison pending sentencing. We understand that sentencing has been delayed, and it has been suggested that he should talk to federal prosecutors, especially about allegations against Illinois governor [Rod] Blagojevich, which are being investigated.
“There is political interest in the US because of the connections between Rezko and President-elect Obama. I make no allegation at all relating to the latter.
“There have been reports that a company related to Mr Auchi registered a loan of $3.5m to Tony Rezko on 23 May 2005. That and other alleged connections are obviously of great interest to investigative journalists and others. More to the point, it is legitimate to investigate such a matter, given that Auchi is a prominent British citizen with political connections in this country and overseas. As I said, it is not appropriate to go into more detail, but it is alleged that Mr Auchi and his lawyers, Carter-Ruck, have been making strenuous efforts to close down public debate. Of course, it is absolutely legitimate for any citizen to demand accurate and rigorous investigation and reporting. The question is whether UK libel laws have the disproportionate effect of discouraging legitimate reporting. Many believe that they do.”
Thanks to commenter Bessie