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(s)Elections See other (s)Elections Articles Title: Indicted Obama fundraiser's bond revoked http://news.yahoo.com/s/ap/20080128/ap_on_re_us/fundraiser_indicted;_ylt=Av6WRSB5C3kHtZoCQTqcF9cXIr0F 27 minutes ago CHICAGO - A judge revoked the $2 million bond Monday for indicted businessman Antoin "Tony" Rezko, who has raised thousands of dollars for Barack Obama and Illinois politicians. U.S. District Judge Amy J. St. Eve said she grew concerned after learning Rezko received $3.5 million from a company in Lebanon; he had claimed that he had no income. St. Eve said she feared Rezko could be a flight risk. The real estate developer and fast food magnate was arrested Monday morning at his home in suburban Wilmette. At an afternoon hearing, the judge remanded him to the custody of U.S. marshals and scheduled another hearing for Tuesday. Some of the people who put up property in Rezko's name also are renting out or trying to sell the property, according to prosecutors, raising concerns there may not be enough collateral to secure Rezko's bond. Earlier Monday, Rezko attorney Joseph Duffy said he needed to get more information about the allegations before commenting. Rezko has pleaded not guilty to charges of fraud, attempted extortion and money laundering, and is scheduled to stand trial Feb. 25. He is accused of pressuring businesses seeking work before two state regulatory boards to make campaign contributions and payoffs. Rezko had long been a fundraiser for Obama. The Democratic presidential candidate and senator from Illinois has said he had no indication of problems with Rezko when he accepted thousands of dollars in campaign contributions. When prosecutors unsealed their charges against Rezko in 2006, Obama gave $11,500 in Rezko contributions to charities. Obama has since sought to distance himself from Rezko, even as his main Democratic rival — Sen. Hillary Rodham Clinton — invoked Rezko's name and his "slum lord business" during a recent debate. The Obama campaign declined to comment on Rezko's arrest Monday. Earlier this month, Obama gave to charity more than $40,000 in past political contributions from seven individuals with ties to Rezko. The decision to donate the money contributed to Obama's House and Senate campaigns — but not his current presidential bid — came after a published report that Obama is the unnamed "political candidate" in one paragraph of a 78-page prosecution document that outlines the case against Rezko. Obama also has had to answer questions about how Rezko became involved in the purchase of the Obama family home as well as other ties to Rezko that go back more than 15 years. Obama has been accused of no wrongdoing involving Rezko or anyone else. Rezko also has been one of Gov. Rod Blagojevich's leading fundraisers. Once the estimated eight- to 12-week trial is over, Rezko still will face federal charges alleging he swindled General Electric Capital Corp. out of $10 million in connection with the sale of two pizza restaurant chains. ___ Associated Press Writer Don Babwin contributed to this report. Post Comment Private Reply Ignore Thread
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