Chicago pension fund has destroyed recordings being sought by investigators: Mayor Daley's Nephew and Obama's Ex-Boss' Investment World

The Chicago Tribune reports:

Mayor Richard Daley insisted Thursday he was unaware his nephew's firm was getting city pension fund investments and was disappointed when Robert Vanecko later ignored his advice to get out of the deal.

The mayor acknowledged that Vanecko's $68 million deal with the city employee pension funds -- now the subject of a joint city-federal probe -- "very clearly led to the perception that rules are broken or preferential treatment [was] given."

Daley said he did not think his nephew had traded on his family connections to drum up funding for DV Urban Realty, which he founded three years ago and quit this week.

Investigators have sought recordings of closed-door pension board meetings that might shed some light on how Vanecko got the business, but the Tribune has learned that at least one pension fund decided late last year to destroy such recordings. City Comptroller Steve Lux made the motion to delete tapes of private police pension board discussions, possibly including conversations about DV Urban, under a state law that allows deletion of old records.

Imagine that.