Why Rezko Was Arrested Today: Follow the Money

The Chicago Sun-Times reports:

A businessman who has fundraising ties to both Gov. Blagojevich and presidential contender Barack Obama did not tell the truth about his finances while out on bond on fraud charges and appears to be a flight risk, a federal judge said Monday morning.

Antoin "Tony" Rezko was arrested this morning at his Wilmette home on allegations he violated the terms of his bond.

Rezko had told the court he had no money to post bond, and family and friends had to post property to secure his release — property worth about $1.5 million in all.

But Rezko allegedly secretly sent cash to two of those property owners, eliminating their risk if he fled.

Rezko allegedly compensated one property owner for the value of the property and was paying the mortgage on another piece of property, according to information that prosecutors presented the judge.

Rezko also was the beneficiary of a $3.5 million wire transfer from Lebanon, U.S. District Court Judge Amy St. Eve noted in a hearing early Monday morning.

'"And it is very clear to me from the government's motion that he had control over this money, and it was going through other routes and other account numbers," St. Eve said.

The judge made the comments when Rezko made a brief appearance before her Monday morning after his arrest.

St. Eve is expected to make a final determination whether to revoke Rezko's bond at a hearing at 12:30 p.m. today.

Rezko has pleaded not guilty to charges that he joined with another major political fundraiser, businessman and attorney Stuart Levine, to shake down money management companies wanting to invest state pension funds.

Rezko goes on trial next month.

No word yet from the Obama campaign on this one.