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And Your Mahru Can Sing? Who Will Be the Lead Vocal on Frawley/Auchi/Rezko/Obama Case?

Chicago Daily Observer 22 March 2012 No Comment

Ask yourself as you read the following what Mahru might have to sing about.

Daniel Mahru — Tony Rezko’s former development partner — was bankrupt, Tim Novak had reported in the Chicago Sun-Times.

Dan Mahru — a lawyer who became an ice peddler and real estate developer — has filed for bankruptcy, declaring that he and his business partners, including Rezko, owe as much as $95 million to creditors.
Mahru estimates his personal debts could be as high as $50 million.

Mahru and Rezko split a few years ago [2005]. But they’re still fighting dozens of lawsuits filed over housing developments they built. “I couldn’t handle all the multitude of lawsuits involving Mr. Rezko,” Mahru says.

Mahru lists $48,970.61 in assets in the bankruptcy case he filed shortly before Christmas.

His creditors are a “who’s who” of Rezko’s world, including:

• A company owned by Nadhmi Auchi took control of 62 acres in the South Loop that Rezko and Mahru hoped to develop [in 2002].

• Joseph Cacciatore, a lawyer and developer who says he’s owed $5 million from the South Loop project.

• John Thomas, a developer and FBI mole who helped authorities document the repeated visits former Gov. Rod Blagojevich and Obama made to the offices where Rezko and Mahru ran their Rezmar Corp.

• Fortunee Massuda, a podiatrist who invested millions in Rezmar projects.

Mahru had stopped paying the $1.5 million mortgage on his Glencoe home, then in foreclosure. He owed $5.4 million on mortgages for his company, Automatic Ice, which provided icemakers to restaurants and hotels. And he owed more than $480,000 in legal fees to eight law firms — including $5,075.28 to the law firm of Ald. Edward M. Burke.

Read more at rbo2

image “And Your Bird Can Sing” on the reverse of the Beatles Revolver

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