Looks like Tony will be freed on bond

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By Natasha Korecki
Federal Courts Reporter/nkorecki@suntimes.com

Judge Amy St. Eve appears poised to release Tony Rezko out on bond, secured to more than $8 million in property. Rezko's wife, Rita, also pledged $380,000 in cash.

St. Eve has not yet made a formal ruling. But she has asked specific questions about people's properties who are posting to secure Rezko's bond.
She also specifically said she wanted a specific property posted because it brought $100,000 in equity, even though lawyers said they didn't think it was needed to get to $8 million.

She may also have cleared up a significant issue tied to a $3.8 million wire transfer from Lebanon.
St. Eve said she interviewed attorneys behind closed doors, under oath, who told her where the largest portions of a $3.8 million wire transfer went. Much of that money, she said, went to pay lawyers.
That transfer, came from the sale of Rezko's 62-acre parcel of South Loop land. It is the reason Rezko ended up behind bars Jan. 28.

Prosecutors -- and the judge at the time -- said Rezko should have but failed to disclose that transfer of money.

But St. Eve said she talked to the lawyer representing General Mediterranean Holding who said under oath that Rezko has no more interest in that land, which was the most valuable asset Rezko still controlled. General Mediterranean is the company tied to Iraqi billionaire Nadhmi Auchi.

With the money from the wire transfer accounted for, and parties swearing under oath that Rezko will not have access to additional overseas funds, St. Eve appears satisfied to set Rezko free.

St. Eve hasn't discussed it yet, but she will undoubtedly put Rezko under strict guidelines, possibly home arrest and electronic monitoring.

Prosecutors strongly opposed the move yesterday in court.

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6 Comments

Syria will have a new resident soon.

This case just get's wilder and wilder...the tangled web is unbelievable. The level that these guys are playing on is just unfathomable. At least now we know where the money came from for Rezko's lawyers- Auchi.

How does Rita Rezko have that much money? In January wasn't she broke? And only making in the neighborhood of 35,000 a year? Gosh,these people know how to turn a profit. Isn't the Judge even a little curious - they were crying poverty a few months ago.

Maybe if Patrick Fitgerald added treason to the charges St.Eve would not be so quick to let Rezko out of jail, she probably didn't see the report on "60 Minutes", or the report by ABC correspondent John Batchelor of Human Events. This is more than fraud and extortion, when you add in Alsammarae, Auchi, Frawley, Mahru it's far more cynical. I hope Patrick Fitgerald dosn't get discouraged. Maybe if he gives Rezko a little more rope he'll hang himself.

Hold on here.... Rita Rezko is poised to put up $380,000 ? How is this possible when she "SWORE" that she subsisted on a $37,000 yearly income and had but $35,000 in assets? Either she has one of the best investment counselors in the world or she sorta kinda FIBBED when she swore they were broke.....

I am surprised more comments have not been posted to this ongoing blog yet those that have aired are interesting. I have to agree with Big Windy that Rezko would flee/flea in a nannosecond if not for the electronics, and who is to say he does not have some means of circumventing that inconvenience. Also, Polly and Hanna raise an excellent point regarding Rita, and the glaring disparity between her collateral and income.

Most alarming however, is the point I think Bessie raised regarding the motivation any of these people could possibly have for a)constantly loaning him huge amounts of money, and b)continuing to shell out huge sums in light of his almost certain conviction of all of these charges. He must have a boatload of dirt on these people.

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Natasha Korecki

Natasha Korecki is the Federal Courts Reporter for the Chicago Sun-Times, covering federal news, corruption investigations and trials.

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This page contains a single entry by Natasha Korecki published on April 18, 2008 1:13 PM.

Will judge release Rezko on bond? was the previous entry in this blog.

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