Amrish Mahajan Obama Rezko lot bank president barred from banking, FDIC receiver for Mutual Bank v Mahajan, Rita Rezko loan, Kenneth Conner whistleblower
“Why wasn’t Rod Blagojevich, Governor of IL, prosecuted before Tony Rezko, a businessman?”…Citizen Wells
“Why was Tony Rezko’s sentencing delayed?”…Citizen Wells
“Why did Mutual Bank fire whistleblower Kenneth J Conner after he
challenged the appraisal on the land purchased by Rita Rezko, just
prior to the land sale to Obama?”…Citizen Wells
The FDIC lawsuit against Amrish Mahajan, et al is still alive.
Amrish Mahajan, the former president of Mutual Bank of Harvey, the bank that loaned Rita Rezko the money to buy the lot subsequently sold to the Obamas, has been barred from banking.
From Chicago Business July 1, 2013.
“Politically connected ex-Mutual Bank president barred from banking”
“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.
Until early 2009, Mr. Mahajan ran Mutual Bank of Harvey, one of the most active lenders to Indian-American-owned businesses in the Chicago area and an enthusiastic commercial real estate lender in Chicago and other markets around the country. The bank, which had $1.7 billion in assets at its peak, failed spectacularly in 2009, saddling the FDIC’s insurance fund with an estimated $917 million in losses, according to the latest FDIC account. That makes it the costliest Chicago-area bank failure since the beginning of 2009.
Mr. Mahajan is a defendant in an FDIC lawsuit against former officers and directors of Mutual Bank seeking $130 million in damages. That suit, filed in October 2011, is pending and in discovery.”
“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.”
Order to bar Amrish Mahajan from banking.
Read more about the Mahajan Obama Rezko connection here.