Rezko, a Syrian-born U.S. citizen who owned a real estate development business and a group of fast-food franchises, has spent his career showering Illinois officials with campaign money. He was a top fundraiser for Democratic Illinois Gov. Rod Blagojevich.
His connection to Obama began when the future senator got national attention as the first black president of the Harvard Law Review. Rezko was impressed by what he read and offered Obama a job.
The two men kept in contact and he became one of the earliest donors to Obama's campaign when he ran for a state Senate seat in 1996.
Their relationship came into the spotlight last October, the same month Rezko was indicted on federal charges, with the disclosure that Rezko had played a role in the senator's purchase of a home.
Obama bought a house and lot. Rezko's wife bought an undeveloped property next door. The two parcels had once been a single tract of land.
Obama paid $1.65 million for the house and lot while Rezko paid $625,000 for the undeveloped lot. Six months later, Rezko sold a strip of his property to Obama, who wanted to increase the size of his side yard. Obama paid Rezko $104,500, which he says was the market rate.
While Obama has said that the transaction was handled ethically, he has conceded the perception of favor-trading it created was a "boneheaded" mistake.
Rezko is charged with plotting to shake down money management firms hoping to do business with the Illinois Teachers Retirement System, a $39 billion state pension fund, for kickbacks.
He also is charged with swindling the General Electric Capitol Corp. out of $10 million in a deal involving the purchase of pizza restaurants.
Rezko attorney Joseph J. Duffy declined to comment on the case.
While Obama turned down Rezko's offer of a job back in 1991, he ended up in a group of real estate deals involving the developer anyway. He accepted a position at the law firm then known as Davis Miner & Barnhill.
At the firm, he represented community groups that partnered with a developer in getting city and state housing rehabilitation loans. The developer was Rezko. Obama estimates he did only about five hours of work.
Burton said Obama has fought "for the toughest possible ethics rules" and that is not "changed by anything that has happened to Tony Rezko."
Obama Dogged by Ties to Developer
Let the dirt fly, elections are a comin'!
Have a good one!:s4:
