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Politically connected ex-Mutual Bank president barred from banking ( Obama mentioned )
Crain's Chicago Business ^ | July 01, 2013 | Steve Daniels

Posted on 07/01/2013 6:59:49 PM PDT by george76

Amrish Mahajan, former president of failed Mutual Bank of Harvey and a major fundraiser for imprisoned former Gov. Rod Blagojevich, has been barred from future participation in the banking industry under a newly released regulatory order.

Mr. Mahajan consented, without admitting or denying unsafe or unsound banking practices, to a May 1 order by the Federal Deposit Insurance Corp. prohibiting him from participating “in any manner” in the conduct of the affairs of any federally insured institution.

...

Mr. Mahajan was known for his political connections, particularly to Mr. Blagojevich. Mutual Bank briefly entered the realm of national politics after news surfaced of the bank's role in financing the purchase of a lot next to the home of then-U.S. Sen. Barack Obama. The Obama family bought part of the lot from the wife of Blagojevich fundraiser Tony Rezko after Mutual Bank lent her $500,000 to purchase the property. Mr. Rezko is in prison on charges of fraud, among other things.

Mr. Obama, during his initial run for president, acknowledged later that the deal was a mistake

(Excerpt) Read more at chicagobusiness.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events; US: Illinois
KEYWORDS: amrishmahajan; barackobama; blago; blagojevich; mahajan; mutualbank; obama; rezko; rodblagojevich; tonyrezko

1 posted on 07/01/2013 6:59:49 PM PDT by george76
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To: Liz; LucyT; hoosiermama

of-possible-interest ping


2 posted on 07/01/2013 7:24:29 PM PDT by thouworm (Steyn: They let [Stevens] die, and then told lies over his coffin.They did that to one of their own.)
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To: george76

Amrish Mahajan, is a defendant in 2 lawsuits involving Mutual Bank, the bank that loaned Rita Rezko the money to buy the lot that was split and sold to the Obama’s. Kenneth J. Conner, the whistleblower in that transaction is plaintiff in one and the FDIC the other.

3 posted on 07/01/2013 7:29:39 PM PDT by kcvl
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To: george76

August 22, 2011 (CHICAGO) (WLS) — Anita Mahajan, a Chicago businesswoman with ties to former governor Rod Blagojevich, pleaded guilty to bilking the state of Illinois by submitting bogus bills.

“I’m sorry,” Mahajan said in court Monday while pleading guilty to felony theft for pilfering about $100,000 in taxpayer money through her drug-testing company, K.K. Bio-Science. That company is now defunct.

The 60-year-old received four years of probation, agreed to pay $200,000 in fines and perform 1,500 hours of community service.

Mahajan’s husband, Amrish, was a banker and significant fundraiser for Blagojevich. Also, Blagojevich’s wife, Patti, made more than $100,000 in commissions handling real estate deals for the Mahajans in 2006, which caused a stir in the Blagojevich re-election campaign. The following year, Mahajan was charged with cheating the state of out of $2 million for drug tests that were never performed.


4 posted on 07/01/2013 7:32:55 PM PDT by kcvl
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To: thouworm

Added to Chicago crime thread. Thanks. One down 99 to go


5 posted on 07/01/2013 8:28:53 PM PDT by hoosiermama (Obama: "Born in Kenya" Lying now or then!)
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To: thouworm; MestaMachine; Rushmore Rocks; Oorang; sweetiepiezer; txnuke; aragorn; La Lydia; ...
Image and video hosting by TinyPic

Politically connected ex-Mutual Bank president barred from banking (Obama mentioned )

Check out article, also comments # 3 and # 4.

Thanks, thouworm.

6 posted on 07/02/2013 10:23:01 AM PDT by LucyT
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To: kcvl

Oh, you mean that house and property that doesn’t have an Obama listed anywhere on the deed and the family left in January 2009 never to set foot in since?


7 posted on 07/02/2013 1:00:59 PM PDT by bgill (This reply was mined before it was posted.)
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