Tuesday, September 25, 2007

Funds for Schooling?

The U.S. Attorney for the Northern District of Illinois issued an indictment against "a commercial real estate developer and property manager who once proposed building the world's tallest building in Chicago."  The government's press release alleges that this developer "allegedly used the fraudulently obtained funds for such personal expenses as purchasing antiques, fine wine, and paying tuition at Harvard University, as well as to pay debts he incurred to professional firms in connection with his ill-fated plan in 1999 to build the world's tallest office tower [   ] in Chicago." The government will have the burden to prove the ten counts of fraud, as alleged in the indictment, beyond a reasonable doubt.



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