|Robert Vanecko (left) and Allison Davis (right) (Sun-Times Photo)|
Don't laugh, but DV Urban Realty Partners received its pro rata share of pension investments based on it being a minority-owned business enterprise. "Since Davis is African-American, DV Urban qualified as a minority-owned business, helping the pension funds meet their diversity goals," the Sun-Times reported. He may not look like it in the photo above, but Davis apparently claims he's African-American. The pair of novice real estate investors purchased risky real estate properties, primarily in neglected neighborhoods. Most of the eight real estate deals in which they invested pension funds had gone belly-up by the time their contract expired in December, 2015. The pair would have gotten more pension money to invest had pension officials not got a court order blocking them from receiving further funds.
Vanecko tells the Sun-Times he bailed out of DV Urban Realty Partners after federal investigators subpoenaed all of the firm's records in 2009. David and Vanecko are being sued for $700,000 they borrowed from New City Bank to invest in the firm. The pair was supposed to invest $7 million of their own money in the firm when they were awarded pension fund investments, but they later got that amount reduced to $3.5 million. Former Mayor Daley denies he had any part in lining up investments from the pension funds for his nephew and Davis, and it's unclear whatever became of the investigation federal law enforcement conducted of the firm's activities several years ago. Obviously the Obama Justice Department took care of his old Chicago political cronies.
One of the crimes prosecuted against former Gov. Rod Blagojevich involved trading state pension fund investments for campaign contributions. It's no secret that Barack Obama played a key role as a state senator, working with his close pal Tony Rezko, in stacking the state pension boards with political appointees who would award pension fund investments to their political cronies who contributed money to Obama's and other Democratic Party candidates campaigns. Although the evidence uncovered by the Chicago U.S. Attorney's Office clearly proved that Obama was engaged in worse criminal activity than Gov. Blagojevich, including taking cash bribes from Rezko, federal prosecutors gave him a complete pass for his crimes so America could have its first black president, or at least bi-racial president. Obama's former law partner boss, Allison Davis, knows where all of the bodies are buried, literally.