Possible bribery probed over deal to supply Chicago's privatized parking meters

The Chicago Tribune reports:

The FBI is investigating whether an executive at the firm that manages Chicago's privatized parking meters was paid $90,000 in bribes to steer a contract to install and maintain the controversial meters across the city.

The alleged kickback scheme was laid out in an FBI search warrant affidavit filed in February seeking access to two email accounts tied to the vice president of government services at LAZ Parking, the firm hired by a Morgan Stanley-led business consortium in 2008 to manage the privatized meters in Chicago.

According to the 17-page filing that was made public recently, the LAZ executive met with the president and CEO of another firm, identified only as Company A, at a Florida restaurant in late 2008, as the city's much-maligned $1.2 billion deal to lease the meters for 75 years was being finalized.

At the meeting, the CEO offered to give kickbacks to the LAZ executive in exchange for steering the contract to install the parking meters to Company A, according to the affidavit. They also made a "side agreement" for additional bribes if other business, such as extended warranties on the meters, was given to the company in the future.

No word yet on this story from William Daley Jr. of Morgan Stanley fame.