Two Chicago Real Estate Executives Indicted on Federal Fraud Charges Involving City TIF Notes and Bank Loans

CHICAGO—(ENEWSPF)—December 12, 2013. Two executives of a prominent Chicago real estate development company were indicted today on federal fraud charges alleging that they lied about and concealed unpaid property taxes, the double-pledging of public financing notes issued by the City of Chicago, and the company’s default on those notes so they could secure credit extensions and payments from the city at a time when they knew their firm was having serious financial difficulties. The defendants,…