CHICAGO–(ENEWSPF)–April 18, 2014. A Chicago real estate developer was arrested today on federal charges alleging that he defrauded the south suburban Village of Riverdale of public funds provided for the redevelopment of the now closed-Riverdale Marina. The defendant, JOHN THOMAS, allegedly fraudulently obtained approximately $370,000 for himself from $900,000 in Tax Increment Financing (TIF) payments in 2012 and used the public funds to repay personal loans and debts, legal fees, rent and other personal expenses.
