Skip to comments.VIDEO: Chicago's Broadway Bank: A Community Bank
Posted on 04/02/2010 9:57:06 AM PDT by AtlasStalled
The "family bank of Democratic Senate candidate Alexi Giannoulias loaned a pair of Chicago crime figures about $20 million during a 14-month period when Giannoulias was a senior loan officer" as reported by David Jackson, John Chase and Ray Gibson for the Chicago Tribune:
Broadway Bank had already lent millions to Michael Giorango when he and a new business partner, Demitri Stavropoulos, came to the bank in mid-2004. Although both men were preparing to serve federal prison terms, the bank embarked on a series of loans to them. Alexi Giannoulias took a senior position at the bank at about the same time and used it as a launching pad for his political career. But as he campaigns to step up from state treasurer to the U.S. Senate, he has tried to distance himself from the bank's business with the pair and has been reluctant to detail his role. * * * Public records do not show which bank officials negotiated or approved any of the loans. Giannoulias declined to be interviewed by the Tribune or to review public records outlining the bank's loans. * * * Stavropoulos in 2005 began a two-year sentence following a felony conviction for running a multistate bookmaking ring, while Giorango would serve six months intermittent confinement on a felony for promoting a nationwide prostitution scheme as Broadway financed their land deals from downtown Chicago to Florida, California and South Carolina.
Broadway Bank claims to be a "community bank" but the above-referenced loans cause one to wonder exactly what community it is serving, and perhaps the entire loan history of Broadway Bank from its inception should be examined to determine the full extent to which it may have loaned to other convicted felons and disreputable figures.
(Excerpt) Read more at bitterqueen.typepad.com ...
Broadway Bank is a favorite money laundering institution of Chicago mobster/politicians.
The illegal monies sent by muslims to help finance Obama’s Chicago mansion? Came through Broadway Bank.
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