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"Whistleblower" Civil Suit Filed Against Bank in Rezko Land Deal

October 18, 2008 2:29 PM

A civil suit was filed against Mutual Bank Corporation this week regarding the Rezko-Obama land deal that has called the Democratic candidate so many headaches.

Kenneth J. Conner filed a $4.2 million suit against his former employer this week in Cook County Civil Court (see the suit HERE)  alleging the bank was engaged in systematic fraud. Conner used to perform real estate review and analysis for the bank and he says that in June 2005 Amrish Mahajam, the president and CEO of Mutual, approved a loan to Rita Malki Rezko so she could purchase a 9,090 square foot vacant parcel of real estate adjacent to land being purchased by Sen. Barack Obama, D-ill.
As part of the loan underwriting process, Adams Valuation Corporation estimated the property was worth $68.76 per square foot, and Mrs. Rezko closed on the property at a price of $625,000 with a loan for $500,000 from Mutual.

When Mrs. Rezko entered into an agreement with Barack and Michelle Obama to sell a ten-foot strip from the property, ultimately for $104,500, the Rezkos requested that Mutual Bank release its first collateral position to the ten-foot strip parcel transferred to the Obamas. Conner was asked to perform an appraisal review of the original appraisal, and he found that the Adams appraisal overvalued the lot by a minimum of $125,000. Conner claims that he was later fired from the bank after alerting authorities that his appraisal had been removed from the bank's files.

What does Obama have to do with this? Nothing directly, as far as I can tell from reading the lawsuit. But it does bring back into the news the Rezko mess, which the Obama campaign would rather just vanish.

The New York Daily News and the Washington Times have more.

-- jpt
   

October 18, 2008 | Permalink | Share | User Comments (110)

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A consumer watchdog group has filed official complaints against Obama with the Federal Election Commission to open an investigation into:
- Northern Trust giving Obama a discount on a below-average rate (5.625%) on his 30-year mortgage for his mansion without paying points.

We won' hear it from our MSM, but the London Times reported that one month before Obama's suspicious land deal, Rezko received a wire transfer of $3.5 million from Nadhim Auchi, an Iraqi billionnaire in Britain who got rich from business dealings with Saddam Husein's regime. The London Times raised the question whether funds from Auchi helped Mr. Obama buy his Georgian mansion.

Although Obama claims he was only eight years old when Ayers was engaged in domestic terrorism, as an adult, Obama served with Ayers on the board of the Woods foundation, which gave grants totalling $75,000 to the Arab-American Action Network, a radical organization with terrorist ties.

Although the above article didn't fault Obama with the unethical appraisal problem, it is yet another reminder of all the troublesome connections Obama has with corrupt individuals.

Posted by: Donoke9_10 | Oct 18, 2008 7:41:46 PM

How much money did an RNC person pay Connor to file this suite NOW
Posted by: Ranger Phx | Oct 18, 2008 6:44:31 PM

________________

Why should there be a "suite" that could be filed?

Don't blame the republicans; that's like being unmarried, getting pregnant, and blaming the baby!

Posted by: just thinking... | Oct 18, 2008 7:05:56 PM

you remember those three monkies


SEE NO EVIL

HEAR NO EVIL

SAY NO EVIL.......
?

WELL,THAT'S OUR FREE (SNORT!) PRESS'S
ATTITUDE AND IMPUT REGARDING THE TRUTH ABOUT OBAMA.


SAD .

Posted by: just thinking... | Oct 18, 2008 7:01:19 PM

"Also, Jack Cashill has quite a bit of work on his website that shows that William Ayers was the author of "Dreams of my father," not Obama. Just compare any of the Ayers' books vs. Dreams."
-----
It really is worth looking at -- while not necessarily discounting the possibility that BOTH these media-monsters' books were ghost-written by some whole OTHER person with a lot to be quiet about ...

Posted by: Belle Starr | Oct 18, 2008 6:51:16 PM

How much money did an RNC person pay Connor to file this suite NOW

Posted by: Ranger Phx | Oct 18, 2008 6:44:31 PM

WELL WITH THE HELP OF LIBERAL NEWS MEDIA THE CONNECTION TO REZKO WILL VANISH FOR SURE FUNNY HOW THESE PLOTS OF LAND ARE SO CLOSE.... AND THAT THE ONLY WAY THAT OBAMA COULD GET THE HOUSE WAS IF THE PLOT NEXT TO IT WAS SOLD. AND LOOK WHO CAME TO THE RESCUE? "REZKO" KNIGHT IN SHINING CORRUPTION AND OBAMA WITH A LOAN LINKED TO HIM...

Posted by: DAVE IN CA | Oct 18, 2008 6:37:51 PM

Joseph Greely: I have already verified much of this information on my own, so I know that what you post is on the mark. I cannot hardly stand to read it and know that the election is even as close as it is. I have also read about the major influences of Saul Alinsky on the young Obama in college. We, as a country, are primed for what Obama is planning and strategizing. We are a country of fools if he gets elected.

Posted by: msa123 | Oct 18, 2008 6:12:29 PM

How do we know that Obama graduated from Columbia U, not Boise State? While ABC gushes over Palin's SAT scores, Obama has not released any college transcripts or papers. Also, Jack Cashill has quite a bit of work on his website that shows that William Ayers was the author of "Dreams of my father," not Obama. Just compare any of the Ayers' books vs. Dreams. They read the same.

Posted by: Colonel Reb | Oct 18, 2008 6:09:27 PM

"This is who America has fallen for. What a disgrace this election is."

I'm with you Sam.

Damning evidence over and over again, and they just won't believe it. They don't want to believe it.

Posted by: msa123 | Oct 18, 2008 6:08:18 PM

Obama's medical records were not released. He gave the MSM basically a doctor's note saying he was physically fit. Nobody saw Obama's medical records.

Posted by: mak | Oct 18, 2008 6:03:57 PM

"How long before Jake puts up Obama's "non-denial denial" talking points and the rest of the Obama media starts parroting the propaganda?

I give it about an hour."

LOL

Posted by: msa123 | Oct 18, 2008 5:55:09 PM

Oh,Obama and that pesky paperwork. Just can't seem to keep track of it.

But, of course, the MSM will give him a pass. To not do so would actually make them get off their duffs and do some work and bend some brain cells.

I do have a question about job descriptions though. Does being a 'reporter' mean having the capability to write well or to appear on camera and talk clearly? Or does it mean to actually do some research and digging to find out the real story on something rather than be stymied by the 'lack of paperwork' issue?

Inquiring minds would like to know.

Posted by: mak | Oct 18, 2008 5:54:45 PM

How long before Jake puts up Obama's "non-denial denial" talking points and the rest of the Obama media starts parroting the propaganda?

I give it about an hour.

Posted by: Oxycon | Oct 18, 2008 5:50:07 PM

HP Boston: excellent, informative post.

Posted by: msa123 | Oct 18, 2008 5:45:23 PM

Thank you so much "Joseph Greely" for doing good research on the real Obama. I've never trusted him in the first place. Obama went to Pakistan with Indonesia passport (during that time, Parkistan visa for Americans is strictly limited). When an attorney from PA, (by the way he's not GOP, he's Hilary's strong supporter)filed a law suite about his dual citizenship, Obama's fight the smears website went and posted "Obama abandoned his Kenya citizenship in 1985". Why they didn't tell the American people in the first place. I love this country so much and some kind of feeling is pulling me back to vote for Obama. (by the way, I'm a registered democrat).

Posted by: jim | Oct 18, 2008 5:44:02 PM

Tangled web indeed...

Posted by: msa123 | Oct 18, 2008 5:43:11 PM

When did he talk to the grand jury for Fitzgerald? Is this one of the reasons that Rezko is singing? So the lot was over valued and the house was undervalued in a very hot real estate market. Why was this bank willing to violate state and federal law for a politician's crony?

Posted by: LuLu | Oct 18, 2008 5:41:19 PM

they were calling Obama a Marxist on the McGlauflin Report last night, even close associates of Obama say he is a Marxist..He will be defeated, he will not get the chance to destroy America

Posted by: common sense | Oct 18, 2008 5:36:37 PM

I've had it wrote: "One other thing, fraud in registering voters is far different that fraud in an election."

Fraud in voter registration undermines the integrity of the entire voting process. If a person in Ohio fraudulently registered in all 88 counties with a legitimate address within each county and had an ID for each address, theoretically he could then vote in every county and never be caught. With early voting that would certainly give the individual more than enough time to travel around the entire state.

Posted by: James Danley | Oct 18, 2008 5:27:29 PM

What does it have to do with ObamACORN? "Nothing really."

Unless you consider the lot in question was purchased on the same day that ObamACORN purchased his home on adjacent property.

The media is so incurious.

Posted by: Captain America | Oct 18, 2008 5:23:54 PM

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