Developer linked to Obama arrested

http://www.cnn.com/2008/POLITICS/01/28/rezko.arrest/index.html


CHICAGO, Illinois (CNN) -- Indicted real estate developer and political fundraiser Tony Rezko, whose links to Sen. Barack Obama have brought his name into the national spotlight, was arrested Monday morning, an FBI spokesman said.


Tony Rezko is facing federal charges of conspiracy, influence peddling and demanding kickbacks.

Rezko was taken into custody by the FBI at his Wilmette, Illinois, home just outside Chicago following a government motion to revoke his bond, said FBI spokesman Tom Simon.

Rezko -- whom Sen. Hillary Clinton referred to in a debate as having run a "slum landlord business" -- has pleaded not guilty to federal charges of conspiracy, influence peddling and demanding kickbacks from companies seeking Illinois state business.

Obama, speaking Sunday to ABC's "This Week," described Rezko as "a friend of mine, a supporter, who I've known for 20 years."

Rezko has contributed to the campaigns of numerous Democrats, including Obama -- though the Illinois senator has vowed to give up all funds connected to Rezko.

Obama has already given to charity more than $80,000 in campaign contributions linked to Rezko.

When asked about news reports suggesting he may have received more money than that connected to Rezko, Obama said, "What we've done is we've traced any funds that we know of that we think were connected to him. And if there any other funds that were connected to him that we're
more...................

:eyes:

Should be in GD: P

I have links to all sorts of people who's bahviour and past actions aren't neccesarily ones I'd support.

I have people I consider close friends who've made some stupid decisions - I don't see why I should deny their friendship because not everything they've done or said in their lives is something I approve of.

Oh and by way of disclaimer - I would enever vote for Obama and think he's just a vapid spouter of cliche's but if this story is supposed to reflect badly on him, I'd say it fails.

Libby was convicted on March 6, 2007, on four counts of perjury, obstruction of justice, and making false statements, and he was acquitted of one count of making false statements.

I refer of course to Marc Rich, Ms. Clinton.
BHN

REZKO For Dummies, Part II
Sunday, January 13th, 2008

In our post A Challenge To Big Media and Big Blogs we dared these peas in a pod to Prove us wrong. Show us where we are wrong in the Obama benefactor and

friend, the indicted Antoin “Tony” Rezko, story. No one has come forward to take up the challenge.



* * *

In old Chicago, paper bags filled with money were passed, literally “under the table” to politicians. These days complicated schemes are employed by politicians on

the take. Herewith, as lawyers say, is our “theory of the case”. As TV show detective “Monk” says “Here’s what happened”:

Obama had multiple land dealings regarding Rezko. Obama and his supporters answer a question about a particular land deal by bringing up details about a different

land deal. This is how they try to kill the REZKO scandal - distract, distort, deflect. But they never answer directly.

I. Obama/REZKO land dealings benefitting REZKO:

Both as part time State Senator and part time lawyer, Obama helped his friend of 17 years, REZKO, obtain tens of millions of dollars in government subsidies. There

are many of these land deals.

At the Chicago political machine law firm where Obama worked, Obama helped pump tens of millions of government subsidy monies to the REZKO company called

REZMAR.

As State Senator, Obama, in his official capacity, also helped pump tens of millions of more dollars to REZKO.
senator but this video proves that too was an Obama lie HERE]

II. Obama/REZKO land dealings benefitting Obama:

Obama received many contributions from REZKO and even more money from contributions raised by REZKO for all of Obama’s political campaigns (the failed

congressional race, the state senate race, the U.S. Senate race). But the biggest personal benefit Obama received from REZKO, that we know of, is the big house

Obama lives in today.

Obama was elected to the U.S. Senate in 2004. Obama and Michelle owned a condominum at that time but now that Obama was a U.S. Senator they wanted to move

to a big house. Obama could not afford the big house he wanted. The house cost $2,305,000. However, in 2005 Obama bought the house he could not afford. Here is

how Obama bought a house he could not afford:

Step 1 - Obama talked the doctor selling the house into selling the house and the house’s side yard separately. There would be two separate buyers of the single

property - both purchasing the property on the same day.

Step 2 - Obama had previously asked his friend REZKO to buy the side yard of the house. REZKO was doing financially well at this point.

Step 3 - Obama purchased the land with the house on it. REZKO, probably to hide his involvement in this land deal and protect Obama, had his wife Rita purchase

the side yard. Both purchases of the single property closed on the same day.

Result - Obama got a $300,000 discount on the much more valuable property on which the house stood. REZKO’s wife, Rita, purchased the side yard for full price.

After the deal, Obama paid for mowing of his front lawn as well as REZKO’s yard.

The math is this: Obama gets a $300,000 discount and pays $1,605,000 for his house; REZKO’s wife buys the yard at full price for the undeveloped, less valuable side

yard for $625,000. Obama gets a $2,305,000 house for $1,605,000. “Profit” to Obama = $925,000.

III. Obama/REZKO land deal benefitting REZKO:

By 2006 Obama and REZKO had reversed fortunes. Obama was a U.S. Senator peddling books (his latest autobiography chock full of “composite” characters and

made up situations). Obama’s wife, Michelle, had fortuitously received all sorts of financial benefits from her new found status as wife of a U.S. Senator - including a

promotion and a $316,962 salary from the hospital she worked at. REZKO was in financial difficulty and it was reported that REZKO was about to be indicted.

Obama came to the REZKO rescue. REZKO, Obama’s friend, slumlord and Chicago fixer was in trouble. Money was drying up and Patrick Fitzgerald was on his tail.

REZKO needed money. The cash flushed Obama obliged. Obama offered to buy some of the REZKO-owned side yard.

The 10 feet of land Obama decided to purchase from REZKO was appraised at $40,000. Obama paid the financially troubled REZKO $104,500. Shortly thereafter,

REZKO was indicted by “Scooter” Libby prosecutor Patrick Fitzgerald on charges including Bribes, Kickbacks, and Extortion.

Why Obama rescued REZKO remains a mystery. Why would an up and coming Chicago politician risk his political future for a slumlord about to be indicted remains a

question. Obama supporters will no doubt burn incense and declare Obama a great humanitarian and friend. Impartial observers, and prosecutors, might suspect this

transaction was “hush money”. “Hush money” talks real loudly in Chicago.

undeclared gift of $300,000. ??

In buying 40,000 land for $160,000 are they going to say that it was a bribe
but on whose part? Obama's for hush money

And then waht would be the federal tax consequences for both parties ???

Like Al Capone will Fitzgerald try to catch both on tax evasion?