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Curtain Time for Barack Obama - Part III Three days after the Chicago Sun-Times reported that Aiham Alsammarae, the former electricity minister convicted of corruption in Iraq, put up $2.7 million in property to help raise $8.5 million to free Tony Rezko from jail in Chicago, the Times reported that Alsammarae had contributed six times to Obama's presidential campaign. The April 29, 2008 report also noted that before he escaped from jail in Bagdad in December 2006, and returned to Chicago, Obama's US Senate office had sought information about Alsammarae from the State Department on October 16, 2006 on behalf of Alsammarae's family while he was being held in jail in Iraq. As usual, when busted on the contributions given in January, February and March, the Obama camp said it would donate Alsammarae's money to charity and his spokesman, Ben LaBolt, put out the standard line that Obama does not ever "recall" meeting Alsammarae. The money missing due to Alsammarae's corruption in Iraq during the two years he served as electricity minister between August 2003 and May 2005 is estimated to be $2 billion. The Operation Board Games investigation revealed that Alsammarae signed contracts worth $200 million that benefited both Rezko and the Iraqi-born billionaire, Nadhmi Auchi, who ended up with Riverside Park, a 62-acre lot in the Chicago Loop estimated to now be worth $2.5 billion. As noted previously in this series, understanding the connections between Auchi and Riverside Park and all the players is the key to understanding Operation Board Games. Financing deals in the Chicago real estate industry were the focus of the investigation from the start and the financing deals involving Riverside Park specifically. On September 29, 2005, Crain’s Chicago Business news reported that General Mediterranean Holding, “a Luxembourg-based conglomerate headed by Nadhmi Auchi, is buying Riverside Park, a yet-to-be-built development on a prime 62-acre parcel on Roosevelt Road,” quoting Michael Rumman, the director of the Illinois Department of Central Management Services, as a consultant on the project. The sale price was estimated to be about $130 million. Joseph Ryan, a local attorney representing GHM, told Crain's that Rezko would no longer be an investor in the project, but “there’s a possibility he may have a consultant’s role in the project." Crain’s noted that Rezko and Auchi were introduced by a mutual acquaintance in London, and said: "They teamed up recently on a $150 million contract to build a power plant in Iraq." "Auchi," Crain's also pointed out, "received a 15-month suspended sentence in France after being convicted in 2003 for taking kickbacks from French oil giant Elf." "And U.S. officials are investigating allegations of bribery involving a mobile phone contract in Iraq that recently was awarded to Orascom, an Egyptian firm in which Mr. Auchi is a shareholder," the report stated. On May 30, 2006 Crain’s reported that before the GMH deal, Rezko and Daniel Mahru, former co-owners of the real estate firm Rezmar, had piled up more than $100 million in debt on the property. “A liquidity crisis in early 2005 resulted in a technical loan default, property documents show, forcing the eventual sale to Mr. Auchi,” the report said. The plan was to build 4,600 residential units and about 670,000-square-feet of retail space on the site. However, the development has now been stalled for years being the new owner Auchi is not allowed in this country and several of his surrogates who were supposed to be developing the project appear to be headed to prison. Future plans are likely not good either being it’s doubtful that many real estate developers in Chicago are eager to hook up with Auchi and Riverside Park at this stage of the game. Nobody knows Auchi anymore
Evelyn Pringle is a columnist for OpEd News and investigative journalist focused on exposing corruption in government and corporate America.
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