Rezko,Alexi Giannoulias,and Demetris Giannoulias: The Ties Bind Broadway Bank to Operation Board Games?

PUMA has some rather interesting facts on that bank making news in the Rezko situation:

According to an article in The Chicago Sun Times , in 2006 Rezko wrote $450,000 in bad checks drawn to this bank, at a time Alexi Giannoulias listed himself both as President and as Chairman of the Board. Coincidentally, and I use this word lightly, in 2003:

Rezko also pushed for the appointment of Chicago banker Demetris Giannoulias, brother of Democratic state Treasurer Alexi Giannoulias, to the Illinois Finance Authority board, records show.

But wait, there’s more. What do we know about Demetris Giannoulias? Well for starters, based on his profile at Crossroads Fund where he serves as a member of the Board of Directors:

Demetris Giannoulias, Chief Financial Officer of Broadway Bank in Chicago, is interested and involved in community organizing and economic development in low-income communities.

Community organizing? Guess which organization has been getting grants from the Crossroads Fund? ACORN of course… Incidentally, Bill Ayers and Bernardine Dhorn are active fundraisers for the fund. Last year when the fund held its 25th anniversary, Barack Obama was one of the Honorary Hosts.

But enough about the Crossroads Fund, let’s get back to Demetris and Rezko.

Professionaly, here is what Demetris has been doing with Broadway Bank:

Since 2000, Mr. Giannoulias has been responsible for the administration and oversight of Broadway Bank… first as Chief Financial Officer, and currently as President and CEO.

Now that I’ve served the appetizer, here’s the main meal:

In 2002, under the guise of funding a construction project, Rezko and his then-business partner, Daniel Muhra had borrowed $10.9 million from Broadway Bank an institution headed by Demetris and Alexei. In 2003, Demetris was recommended by Rezko to Governor Rod Blagojevich for a seat on the Illinois Finance Authority Board, for reasons yet unknown, Demetris was not appointed.

In 2003/2004 Tony Rezko was one of Obama’s biggest fundraisers during his Senate run. Among the contributors to the Obama campaign fund other than Rezko were Demetris and Alexi Giannoulias, both still executive officers of Broadway Bank.

No wonder the Obama campaign had someone in court every day of the Rezko trial