Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Ann Corrigan who wrote (29807)	6/4/2008 6:36:21 PM
From: TideGlider	Read Replies (2) \| Respond to of 224704

One-time Obama fundraiser guilty in corruption trial Wed Jun 4, 2008 6:20pm EDT CHICAGO (Reuters) - Antoin "Tony" Rezko, a Chicago real estate developer and one-time fundraiser for U.S. presidential contender Barack Obama and other politicians, was found guilty on Wednesday of fraud, attempted bribery and money laundering. The verdict came the day after Obama claimed the Democratic party nomination for president. The Republican party immediately took note, issuing a statement calling Rezko Obama's "money man" and "long-time friend." A federal jury convicted Rezko of 16 of the 24 counts against him for using his influence over two Illinois government boards to extort millions of dollars in bribes and campaign donations. Obama's name came up only peripherally during the two-month trial as a recipient of campaign donations generated by Rezko for his U.S. Senate race in 2004. The Syrian-born property developer and restaurant entrepreneur had a close friendship with Obama and the ties with Rezko, 52, created some sparks in the Democratic primary contest. Rezko's role could resurface in the November contest against Republican Sen. John McCain. If Obama wins the election, he would become the first black U.S. president. Democratic rival Sen. Hillary Clinton accused Obama in a January debate of doing legal work for Rezko's "slum landlord business in inner city Chicago." Critics said Obama's relationship with Chicago powerbrokers, including Rezko, and his ties to the Rev. Jeremiah Wright, his fiery and controversial former Chicago pastor, raised questions about his judgment and his credibility at a time when he is touting a new approach to politics free from influence. Obama quit the church, Trinity United Church of Christ, after 16 years of membership in the aftermath of another inflammatory sermon delivered by a visiting priest and Obama supporter who mocked Clinton. Rezko was found guilty of 12 counts of mail and wire fraud, two of attempted bribery and two of money laundering. The jury found him not guilty of three counts of wire fraud, one of attempted extortion and four of attempted bribery. Prosecutors focused on Rezko's corrupting influence in the administration of Illinois' Democratic Gov. Rod Blagojevich, eliciting testimony that Rezko demanded campaign contributions and bribes in exchange for jobs or state contracts. The defense presented no witnesses. Some of those suspect campaign contributions went for Obama's senate run and his presidential campaign has given away some $250,000 in donations it can trace to Rezko. In March, Obama sought to clear the air and answer critics that he was not being forthcoming about Rezko by agreeing to answer all questions from Chicago newspaper reporters. The interviews revealed a close relationship where the two discussed strategy daily and socialized with their families. Obama told the Sun-Times he was "saddened" by Rezko's legal troubles and would be "disappointed" if he was convicted. Obama said he did some legal work for Rezko's real estate partners in the 1990s, but he regretted his dealings with Rezko after becoming aware of the government's investigation. Obama also has said he had been "boneheaded" in allowing Rezko into the transaction for his family's 2005 house purchase, paid for with proceeds from his two best-selling books. On the same day as the Obamas bought a Georgian-style mansion for $1.65 million, which represented no profit to the sellers, Rezko's family bought an adjacent lot for $625,000 at a profit to the same owners. Obama later paid $104,000 for a sliver of Rezko's lot to provide a privacy buffer. Obama said Rezko had never asked him for any political favors, nor did he grant him any. One witness said Senate candidate Obama attended Rezko's 2004 party for Iraqi-born billionaire Nadhmi Auchi, who has been convicted of fraud charges in Europe. Obama's campaign has said he does not remember attending or meeting Auchi. (Reporting by Andrew Stern; Editing by Michael Conlon and Eric Walsh) reuters.com