In a rare and surprising move, federal prosecutors have dropped 17 felony bank fraud charges against state Rep. La Shawn Ford (D-Chicago), and allowed him to plead guilty instead to a single misdemeanor tax charge.
A former Chicago lawyer who now hosts a national radio talk show was indicted on federal charges for two mortgage fraud schemes that defrauded lenders out of nearly $10 million.
As he made his first court appearance on federal bank fraud charges, state Rep. La Shawn Ford got the rock star treatment from dozens of West Side residents who came out to show their support for the embattled lawmaker.
State Rep. La Shawn Ford has been indicted on federal bank fraud charges, accused of falsifying bank loans to get an additional $500,000 in credit for his real estate business, and then using the funds for personal and campaign expenses.
A former executive of a Chicago bank stole more than $3 million from the institution over 15 years and using it mainly to feed her gambling habit, according to federal prosecutors.
Fourteen people have been arrested in three separate alleged mortgage fraud schemes involving four homes in the Englewood neighborhood.
A onetime Tony Rezko business partner, who once was a Chicago cop and chief executive of a company that won a $50 million security contract in Iraq, has pleaded guilty to federal charges in Chicago after he cooperated with authorities.
He was a suburban bank officer and he changed loan documents to make it look like payments were current when they actually were overdue. Now he’s headed to prison.