Chicago Alderman Vrdolyak Implicated in Real Estate Fraud
With the slowdown of the real estate boom comes the exposure of all of the real estate crimes that were committed. With easy money comes the hustlers and the con artists, and to be a Chicago Alderman, you need a little bit of both to do your job. So when word came out that Edward R. Vrdolyak, the former Alderman from the 10th district is under investigation for real estate fraud, who is really surprised.
Federal authorities are exploring possible wrongdoing by former Chicago Ald. Edward R. Vrdolyak (10th) in connection with a multimillion-dollar real estate deal involving indicted businessman Stuart Levine, the Chicago Sun-Times has learned.
Levine secretly recorded Vrdolyak making allegedly incriminating statements, sources said. The nature of those statements — and whether they’re about the real estate deal — could not be determined.
Levine wore the wire as part of his cooperation with federal authorities, the sources said. He is facing felony fraud charges tied to posts he held on state health and pension boards and as a former trustee of the Rosalind Franklin University of Medicine and Science. via the Chicago Sun Times.
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