Illinois Republican Party

Kirk: Giannoulias bank has loaned $52 million to criminals
3/12/2010

From the Chicago Sun-Times

U.S. Rep Mark Kirk said today that Thursday's arrest of a Giannoulias Family friend and bank customer brings the amount of money Broadway Bank has loaned to criminals to $52 million.

State Treasurer Alexi Giannoulias, Kirk's Democratic opponent for U.S. Senate, has said that as chief loan officer of his family's bank from 2002 to 2006, he did not check loan applicants’ arrest records.

Kirk calls that "reckless."

The latest Broadway Bank client to cause Giannoulias headaches is Nick Giannis, owner of Boston Blackies restaurants and the second-biggest non-family donor to Giannoulias’ political campaigns.

It turns out that Giannis had a felony arrest for gun possession at the time Broadway Bank was approving $6 million in mortgages for him, Kirk's campaign pointed out today. The charge was later downgraded to a misdemeanor.

A Giannoulias spokesman said this morning she was checking whether Giannoulias himself personally signed off on those loans.

Nick Giannis was arrested at the U.S.-Canadian border with his Greek passport Thursday, apparently trying to flee the country as he was being indicted in a check-kiting scheme in Cook County.

The Giannoulias and Giannis families reportedly were friends and Giannis had contributed about $120,000 to Giannoulias’ political campaigns. Giannoulias plans to donate $120,000 from his campaign to charity.

On Jan. 1, 1996, Nick Giannis was stopped for speeding and driving under the influence as he was driving northbound on 1-294, according to court records.

When officers searched his vehicle, they found a bag with a gun inside in the back seat of the car.

He was charged with felony possession of a firearm. However, the charge was amended to a misdemeanor. Giannis pleaded guilty to the lesser charge and was sentenced to two years probation, according to court records.

Giannoulias signed off on $20 million in loans to reputed father-and-son Russian mobsters Lev and Boris Stratievsky but Giannoulias said -- and the records back him up -- that when they came in to his bank they had "not even a misdemeanor" charge.

Giannoulias helped service $15 million in loans to convicted bookmaker Michael "Jaws" Giorango, though those loans were made before Giannoulias took his job with the bank. Loans to convicted influence-peddler Tony Rezko likewise were made before Giannoulias took his office there.

SOURCE: Sun-Times

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