City pension officials have been hit with subpoenas from a federal grand jury trying to determine how they decided to invest $68 million with a start-up company co-owned by Mayor Daley's nephew.
The grand jury issued the subpoenas Wednesday, nearly two months after city pension officials refused to comply with similar subpoenas issued by the city of Chicago’s inspector general, David Hoffman.
Hoffman said Friday that he and federal investigators are now jointly investigating the pension fund investments with DV Urban Realty Partners, co-owned by Daley's nephew Robert Vanecko and one of the mayor's top African-American allies, Allison S. Davis.
This is the second joint investigation that Hoffman and federal authorities are conducting into Vanecko's businesses.
That investigation involves the hidden-ownership of Vanecko the the mayor's son Patrick in a sewer cleaning company that has been awarded millions in city business courtesy of no-bid contract extensions.
About Allison S. Davis: He's a former name partner of the smallish law firm Barack Obama once worked for. Davis gets around, he's an ex-business partner of convicted felon Antoin "Tony" Rezko, the president's first political sponsor.
Although he has deep ties to the African American community, Davis is not black, as the Sun-Times states.
CORRECTION May 30: Looks can deceive. From the Chicago Sun-Times in 2007:
Davis grew up in Hyde Park, home to the University of Chicago. His father, also named Allison Davis, was the university's first African-American professor and was pictured in 1994 on a commemorative U.S. postage stamp.
Related post:
Illinois corruption update: Ald. Carothers expected to be indicted
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