ABC News: Rezko In Debt $50 Million; How Did He Afford Obama Lot?

http://www.abcnews.go.com/Blotter/story?id=4392835&page=1

By BRIAN ROSS and RHONDA SCHWARTZ
March 5, 2008

Accused Illinois fixer Antoin "Tony" Rezko is in debt by $50 million and relies on "family" handouts of $7,500 a month to pay monthly costs, according to a previously sealed court transcript reviewed by ABC News.

Rezko's bleak financial picture raises the question of how the Rezkos were able to buy a vacant lot adjoining the home of Sen. Barack Obama in 2005, at a time Rezko says he was already in deep debt.

SNIP

Rezko told the judge he had no current source of income, saying his last business deal involving a proposed power plant in Iraq had been cancelled.

He said he had an ongoing relationship with Nadhmi Auchi, a London-based Iraqi billionaire convicted on French fraud charges, who Rezko described as a close friend and business associate.

Auchi came under investigation with the U.N. oil-for-food scandal, but no charges were brought, and he denied any wrongdoing.

NO QUARTER has more background info and analysis....

http://noquarterusa.net/blog/2008/03/05/abc-news-rezko-50-million-in-debt/#more-1721

RE developers are often deep in debt.

Can anyone find even a single fact in ... these long, breathless pieces reflective of possible wrongdoing of any kind on Obama's part? Shouldn't such facts be a bare pre-requisite for trying to build something like this up into some sort of scandal?

he hasn't answered all the questions reporters have posed.

I'm broke - where can I find a 'family' that will give me $7,500 a month for expenses?? :shrug:

a guy already in legal trouble is on display. The Auchi ties into Syria is what is going to be especially interesting...

Your indictment is often "in the mail."

Then it would be an indictment of another big Clinton contributor.

Saying that he is was an acquaintance with someone who broke the law is a silly criticism and would probably indict most of us.

they're good to go.

Jesus Christ some people are stupid.

50 million. Debt. That kinda flow enables people to purchase a house lot if they decide that's what they want to spend their own or borrowed money on.