The development opened in 2002 and was supposed to be managed by William Moorehead & Associates. William Moorehead was also a client of the Davis law firm and a business partner of Davis. In April 2007, Moorehead told the Times that his company was dropped from the deal before the apartments opened. The apartments are now managed by a company owned by Davis' son, Cullen Davis, according to Novak.
In the Times article, Novak also noted that Moorehead received a 4-year prison sentence "for stealing more than $1 million from ... public housing projects he managed for the Chicago Housing Authority and the U.S. Housing and Urban Development Department, as well as from two developments he co-owned with Davis."
In a 2006, Moorehead pleaded guilty to fraud and other crimes and admitted stealing more than $600,000 from the Island Terrace and other federally subsidized projects.
During the period when Moorehead was stealing money, the Times reports, he lent Davis $100,000. Davis sent Moorehead a letter on June 15, 2000, and said the sale and refinancing of one of their housing projects had been delayed and wrote: "I need to borrow $100,000 from the Island Terrace resources."
As part of a plea deal, Moorehead is cooperating in an ongoing federal investigation.
David Brint now owns Brinshore Development. He told the Times that he quit Rezmar four years after the company got its first deal with city because Mahru did not find money for building repairs. Brint and his partners have taken over four failed Rezmar buildings -- "in one case paying the city $1 million to settle a $4 million loan made to Rezmar," according to the Times.
Gary Poter owned the construction company that rehabbed all of Rezmar's buildings. He was stabbed to death in May 2006, supposedly by a disgruntled employee, according to the Times "Rezmar who's who" list. Back on March 3, 2004, Poter donated $2,000 to Obama's US senate campaign and on July 19, 2004, he gave Obama another $1,000.
Its more than obvious that the political mafia of Illinois now has plans to install the new, "White House Office of Urban Policy," as a means of getting richer by funneling tax dollars through poor people and retirees on a national level via Obama.
The leaders of Democratic party need to tell him that he will not be the nominee and to drop out of the race. If they do not, the Republicans have enough truthful information lined up to drive Obama out before election day.
A month ago a friend of mine who knew I did not think Obama was qualified to be president, asked me what I would do if he was nominated. I replied that I would vote for him of course, what a dumb question. No more. After a month of research, I could no more support Barack Obama as the leader of this country than I could support another war profiteering Republican.
If he becomes the nominee, all the Democrats in America will be viewed by the rest of the world as either utterly stupid, or totally corrupt. Therefore, for the first time in my life, I have made a conscious decision to take a stand and not vote in a presidential election if the choice is Obama.
Evelyn Pringle evelyn-pringle@sbcglobal.net
(The next report in this series will cover the subplots of the ongoing Illinois corruption case that stretch from O'Hare airport to the Illinois Tollway to war profiteering in Iraq)
you have posted an inventory of half truths, outright lies and speculations that have evidently been loaded into your word processor with the same shovel you use to clean the stable and quite clearly for use with the same material.
This load of shit isn't even worthy of dissecting with corrections. I can, however, see how you have come to be a propagandist Clintonista.
by
John Sanchez Jr. (4 articles, 0 quicklinks, 8 diaries, 1045 comments)
on Friday, April 4, 2008 at 4:22:13 PM
Tracing the trail of Iraqi born billionaire Nadhmi Auchi indicates Rezko's deals may include a money trail leading back to Saddam Hussein oil for food program.
A 2004 Pentagon report described Auchi, "who, behind the facade of legitimate business, served as Saddam Hussein's principal international financial manipulator and bag man." Auchi prospered in Saddam's regime collecting "commissions" on sale of weapons and other goods to Iraq in the 1980s and 1990s.
A recent Pentagon report accuses Auchi of "unlawful activities working closely with Iraqi intelligence operatives to ... arrange for significant theft from the U.N. Oil-for-Food Program to smuggle weapons and dual-use technology into Iraq," and to "organize an elaborate scheme to take over and control the post-war cellular phone system in Iraq."
At Saddam's insistence a scheme orchestrated by Auchi appropriated billions of dollars from America through America's Oil for Food program into Auchi's bank account. These transactions passed through Banque Nationale de (BNP) from its 1995 inception until 2001 through Auchi's General Mediterranean Holdings Company (GMHC) which was the largest private shareholder in Paris. Auchi's General Mediterranean Holdings has connections in Iraq which lead right back to Tony Rezko.
Auchi's company helped finance a 250 megawatt power plant in the Kurdish town of Chamchamal, Iraq, teaming up with Rezko and Iraq's former Minister of Electricity, Aiham Alsamarrae. In December, 2006 Alsamarrae was accused of graft and is being charged in a $2 billion Iraqi reconstruction corruption case. Alsamarrae is a Chicago resident with dual US-Iraqi citizenship -an embarrassing connection for the war critic Obama. Alsamarrae is now living in his Chicago mansion.
Writing in Human Events, March 3, 2008, John Batchelor reports on an Alsammarae-Obama-Rezko connection: "...in April 2005, one month before Mr. Alsammarae left his post, his Ministry of Electricity signed a contract for $50 million with Companion Security to provide training to Iraqis to guard electrical plants by flying them to Illinois for classes.
"Companion Security was headed by a former Chicago policeman with a troubled history, Daniel T. Frawley, in partnership with Mr. Rezko and in association with Daniel Mahru, the lawyer for the original contract and Mr. Rezko's former business partner. In April 2006, Mr. Frawley entered negotiations with Governor Rod Blagojevich's staff to lease a military facility in Illinois to be a training camp. In August 2006, Mr. Frawley started negotiations with Mr. Obama's U.S. Senate staff to complete the contract....
"The timeline of Companion discussions in 2006 is important to note: April 2006 Frawley speaks to governor's office; August 2006 Frawley speaks to senator's office; October 2006 indictment of Rezko revealed; October 2006 Rezko arrested upon return from Syria; October 2006 Alsammarae convicted in Baghdad and makes his first escape attempt; December 2006 Alsammarae escapes from Baghdad. ..."(In 2004) Mr. Auchi traveled by private aircraft to Midway Airport in Chicago and then to a fete at the Four Season Hotel, where he met with his business partner in Chicago real estate, Mr. Rezko, as well as with Illinois Governor Rod Blagojevich. Also present that night, according to a fresh report by James Bone and Dominic Kennedy of the London Times, was State Senator Barack Obama, who had recently won the Democratic primary for the U.S. Senate seat...."
The Obama Connection
Recently the London Times reported that Auchi had been a business partner of Rezko since 2003 and between April 2005 and 2007 loaned Rezko at least $18 million. On February 1 the London Times reports uncovering, "state documents in Illinois recording that Fintrade Services, a Panamanian company, lent money to (an) Obama fundraiser in May 2005. Fintrade's directors include Ibtisam Auchi, the name of Mr. Auchi's wife." "A company related to Mr. Auchi, who has a conviction for corruption in France, registered the loan to Mr. Obama's bagman Antoin 'Tony' Rezko on May, 23 2005. Mr. Auchi says the loan, through the Panamanian company Fintrade Services SA, was for $3.5 million.
These Funds from Auchi's loan helped finance a complex series of transactions between Rezko and Democratic Presidential candidate Illinois Senator Barack Obama involving the 2005 purchase of Obama's Chicago mansion and Rezko's purchase of an adjoining landlocked parcel.Rezko claims he paid "full market price" and Obama apparently received a "discount" of several hundred thousand dollars for his parcel. Rezko then improved his parcel to benefit Obama.Instead of handing cash to Obama, Rezko handed Obama a preferential price for property.
This is the same form of "honest graft" and preferential treatment that sent former Illinois Governor Otto Kerner to jail over 30 years ago, see United States v. Isaacs, 493 F.2d 1124 (7th Cir. 1974).The Chicago Sun-Times recently reported that Mr. Rezko, around the same general period he was wheeling with Obama, also provided a preferential price for a property purchase by U. S. Representative Luis Gutierrez.
Instead of transferring cash to buy influence, Rezko was engaging in structured property transactions and preferential treatment of public officials to confer significant financial benefits on them, far above the legal limits of any legitimate political contribution permitted by federal law.
Rezko was a key early-money fund raiser in Obama's state Senate campaigns. and Rezko's relationship with Barack Obama goes back to at least 1990, when Obama's law firm did work relating to a Rezko housing development. Rezko as a major mob figure is not known for civic-mindedness or desire for good government.
At a March 3 news conference in San Antonio, Texas, Chicago-based reporters peppered Obama with some of the questions the national news corps has avoided for over a year. Obama claims he had already answered the questions in the Chicago media. He said: "These requests, I think, could just go on forever. At some point, what we need to try to do is respond to what's pertinent."
Dana Milbank of the Washington Post wrote:"Reporters, however, had a different idea of what was pertinent, and the questions about Rezko, NAFTA and other unpleasant subjects continued to come. An aide called out 'last question,' and Obama made his move for the exit -- only for reporters to shout after him in protest. 'C'mon, guys,' he pleaded. 'I just answered, like, eight questions.'"Sources: Barack Obama, Tony Rezko,
