Yet another Illinois politician caught with his hand in the piggy bank:
“Ford, 40, of Chicago — who also invests in Chicago real estate — allegedly fraudulently obtained a $500,000 increase and a two-year extension on a line of credit from a failed bank called ShoreBank, making false statements to gain multiple advances, according to a federal indictment returned by a grand jury Thursday.
He was charged with eight counts of bank fraud and nine counts of submitting false information to the bank in a 17-count indictment.
The indictment seeks forfeiture of approximately $832,000, according to the news release.
Each count Ford faces carries a maximum penalty of 30 years in prison and a $1 million fine, and restitution is mandatory.”
This tweet came in from the Illinois Opportunity Project shortly after the news broke:
IL needs a sign near the statehouse: "XX days since the last legislator indicted."trib.in/V8QhBX
— ILOpportunityProject (@ILOpportunity) November 29, 2012
$500K? Man, that number sounds familiar….
Seriously, won't somebody think of the ineptly corrupt politicians? Obama, can't you give back to your old community and help them learn how it's done? Hillary, what about you? These ole flinty-hearted bastards, not helping along their fellow party members.
Btw, Ford wasn't the only corrupt pol getting too greedy in Illinois:
In March State Rep. Derrick Smith was charged with accepting a bribe of $7,000 in exchange for supporting a grant for a fictional day care operator in an undercover FBI sting. Smith was expelled from the legislature but was re-elected in November and is slated to be seated to the legislature again in January.
I could be snide about "name that party", but come on. It's Illinois. You don't have to name the party.