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At first blush, a pension bill adopted by the General Assembly in 2007 seemed to have a laudable goal: extending retirement benefits to local police force employees’ widows after they remarried.
But buried within the legislation was something considerably less altruistic: a provision that enabled a member of one of Chicago’s better-known political families to boost his pension by more than $30,000 a year — while saddling unsuspecting taxpayers in Oak Brook with nearly $750,000 in funding liabilities, the Chicago Sun-Times and Better Government Association have learned.
The recipient of that larger pension, Thomas Sheahan, is a former police chief in Oak Brook, the current village manager in Lyons and a member of a Democratic clan that has helped rule Chicago’s Southwest Side for decades.
Gun ownership: inalienable right
Separation of school and state
Lex Green and Ed Rutledge
2010 candidates for Illinois
Governor and Lt. Governor
IHOP Restaurant – Wheaton
167 Danada Square East
Tuesday, August 16 at 7 p.m.
(6 p.m. if ordering dinner)
For more information Call
Crystal Jurczynski 630-854-4110
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Don’t miss it!
The Associated Press
NEW YORK — The former president of a Chicago-based private equity firm has been sentenced in New York City to more than 13 years in prison after admitting he misspent millions of dollars in investor money.
Steven Byers was head of WexTrust Capital. He pleaded guilty last year to conspiracy and securities fraud. He was sentenced Monday in federal court in Manhattan to 13 years and four months in prison.
Prosecutors say Byers and others took $9.2 million from investors to buy seven commercial properties but never bought them.
The 48-year-old Oakbrook, Ill., resident also was ordered to pay $7.7 million in restitution and to forfeit $9.2 million in proceeds from the crimes.
via Ex-boss of Chicago equity firm is sentenced in NYC | ajc.com.
June 24, 2010 (OAK BROOK, Ill.) (WLS) — About 78,000 ComEd customers still remained without electricity Thursday morning after pwer was restored to about 230,000 customers following strong Wednesday night storms.
At least four funnel clouds were reported in the city of Chicago, however, tornadoes had not been confirmed by the National Weather Service as of 11 a.m. Thursday.
West suburban Oak Brook was one of the hardest hit areas, experiencing 80-mile-per-hour winds. The gusts were so strong, it ripped the roof off an office complex. Hundreds of pieces of roofing and scrap metal littered the parking lot.
Cleanup begins after Chicago storms | abc7chicago.com.