Loren testified he gave in to Levine's repeated pleas to write up a sham consulting contract to be used by Sheldon Pekin. Pekin represented Glencoe Capital, which successfully sought business from the TRS board. Pekin agreed to split his finder's fee with someone designated by Rezko and Levine, Pekin and Levine have testified. Loren said he knew of the plan but didn't tell the board.
"The TRS board should have known about this if I knew about it," Loren said.
He recalled once sharing a ride home with Levine, who has also pleaded guilty, and asking Levine who Pekin would split his fee with. He said Levine told him it was to go to Ald. Dick Mell, the governor's father-in-law.
"I said: 'How can these people be so stupid?' " Loren said, explaining it was an obvious conflict for Mell to get consulting money off a state deal.
According to prosecutors, the deal with Mell never went through, and the money instead went to Rezko associate Joseph Aramanda.
And who is Joseph Aramanda? The guy who allegedly gave a straw donation for Rezko to Barack Obama, and whose son served as in intern in Obama's Senate office in 2005.
Stupid or crooked, take your pick.
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