Former state Sen. John D’Arco — twice convicted of federal corruption charges — is involved in a land deal financed by a bank that’s owned by the family of Alexi Giannoulias, the Democratic candidate for Illinois treasurer.Official records in Florida indicate that Mr. D’Arco and two convicted bookmakers joined in March 2001, to incorporate a company that acquired the Lorraine Hotel in Miami Beach, Fla. Two months later, the firm received the first of a series of mortgage loans from Broadway Bank, where Mr. Giannoulias is a vice-president.
Mr. Giannoulias and the bank Tuesday released nearly identical statements saying that Mr. D’Arco, whose name does not appear on mortgage papers, “has never been a loan applicant, recipient, co-signer, guarantor or customer” of Broadway, and does not hold an ownership share in the hotel deal.
But Florida records also indicate that Mr. D’Arco signed legal papers in connection with renovation of the hotel in October 2001 — four months after Broadway issued its first mortgage loan.
Another party to the deal is Michael "Jaws" Giorango. Crain's:
Mitigating circumstances indeed. Here is Christine Radogno's latest ad.Mr. D’Arco was convicted in 1991 and 1995 of taking a bribe to introduce legislation in Springfield and of seeking to fix a court case. His father, John D’Arco Sr., was long the Democratic boss of Chicago’s 1st Ward, a reputed base for organized crime.
News of the D’Arco matter may reignite questions over Broadway Bank’s loans to crime figures and whether Mr. Giannoulias knew or should have known about them, given that he often cites his Broadway experience as a credential to become one of the state’s top fiscal officers.
Crain’s first reported last spring that Broadway had loaned money to Mr. Giorango, who has been convicted of federal bookmaking and prostitution charges. Mr. Giorango says he has “paid my debt” on the first offense, that the second involved only a misdemeanor offense in which he was a client, not a brothel operator.
Please. No more corruption.
VOTE Christine Radogno for a State Treasurer with experience and integrity.
No comments:
Post a Comment