Take the Money and Run
We guess Vanecko recouped his money and then some. Might as well leave the union pension funds holding the bag:
Mayor Daley's nephew Robert Vanecko says he no longer has a financial stake in a real estate investment firm he co-founded that got deals to manage $68 million for five city pension funds.
Asked by a Chicago Sun-Times reporter last week about DV Urban and the city pension business, Vanecko responded with an e-mail saying he no longer has any financial interest in the company -- and that he won't get any money if the company's troubled real estate investments one day turn a profit.
- Since January 2007, Vanecko and Davis have collected a total of more than $3.7 million in fees from the city pension funds: over $2.1 million in management fees, $1.3 million in development fees and $353,700 in property management fees for overseeing two apartment buildings and an office building bought with pension money.
And since they allegedly only put in $2.6 million of their "own" money, Vanecko and Davis walk away with a cool $1.1 million in "fees" for their investment in just under 3 years. Our funds get stuck with a bunch of property that has declined precipitously in value.
Not bad work if you can get it.
Not bad work if you can get it.
Labels: corruption, money questions
posted by SCC at 9:01 AM
76 Comments:
This is Bullshit Where are the FEEBS? Just WHAT do they DO anymore?
Blame the Pension Board
Hopefully Uncle Richard can lead him to another City Swindle Operation. There has to be something out there left for him to steal.
guess they only put a ''little skin in the game'' while we are left holding the bag. this is nothing more than bullshit spin control.who squeezed these people to cough up the 68 million? you just dont hand over that much ca$h. i expect the usual '' i didnt know'' response.
HAPPY ANNIVERSARY SGT HITNEY!
Fuck them and fuck Richie Baba and his 50 other thieves.
WOULD YOU EXPECT ANYTHING LESS FROM THE dALEY CRIME FAMILY?
Hennessey Williams (Ghetto Playwright) just finished selling a lose cigarette and he jingled the change in his pocket.
He sat upon his milk-crate and thought back to his younger days. Full of nostalgia he turned to his friend Summer Teeth Watkins and stated, " I works swap once. Swaps was goot."
***********************
well played heavy action... well played indeed!
Why is he not indicted? Is it because daley is a fed informat? Must be with all the crimes daley and his family have commited they make the Gotti crime family blush!
Just incredible...
Where is the FBI in all this? This has to violate some fucking law somewhere.
Off topic but interesting. WED night HBO will be replaying the special about the terror attacks in Mumbai India. For those who think that could never happen here, think again just read about one of the conspirators who lived up North in 024. Over 3 days 10 terrorists brought a city LARGER than Chicago to it's knees and killed/maimed 300. Since 9/11 Chicago has had sufficient time to prepare but yet has only wasted precious resources on clout related families/companies doing business with the city. If 10 maniacs took over Watertower/Ritzcarlton how many people in your roll call would you trust. When your see our Mayor and his family essentially playing MONOPOLY with our tax dollars and placing clout babies in important spots,like the recent rigged canine test, it just makes you want to scream .
OT:the media outlets are reporting today about the austic boys family suing the poice over their little man being hit in the head.at least one outfit has been reporting that he was never charged with anything.i hope they just fucking things up again.
When is the list of Canine kids going to be posted if ever? Wait until the lawsuits start from this mess, it's going to be the most expensive dog show ever. Can't the city ever do anything legit?
He got his money back and a whole lot more. Fuck this Daley and his family!
off topic: Joshua Woods you are still in are thoughts. 4 years today you flew to the angels. may you continue to find comfort within the lord's arms. you are not forgotten.
How much did Shortshanks kid make.
The one that is living in exile in Russia til the heat cools down.
With the onset of winter, I particularly enjoy kicking back and reading a good book. I just finished Ayn Rand's magnum opus "Atlas Shrugged", written over fifty years ago.
Call it her prescience, Orwellian, whatever. Still, in her great work of fiction, she is describing exactly what is happening in our nation a half century later. Uncanny, even frightening.
Dennis Miller, the comedian and former SNL "Weekend Update" anchor recommended "Atlas Shrugged" on his nationally-syndicated weekday morning show (9 to noon) on WIND-AM (560). Like me, Dennis may have been a kneejerk lib in his college days.
Now, you'd be hard-pressed to find a more articulate and eloquent spokesman for political conservatism.
Today's guest was John Stossel, formerly of ABC newsmagazine 20/20. Stossel will now work FOX-TV so he can be unmuzzled from the "politically correct" producers at ABC. Miller and Stossel were cut from the same bolt of cloth. Very bright guys.
Daley is a f@#$ing crook along with his entire dirty family of theives.
When will the citizens of this cesspool wake the f@#$ up and stop supporting this prick????????
It's amazing that the feds are too afraid and don't have the balls to go after Daley.
FU Daley and all your little shitbag cronies!
Vanecko will end up living in Russia so he won't have to answer questions about city deals just like his cousin, Daley's kid.
Below is a link to a 2007 article outlining the terms of the DV Urban Realty / Chicago Pensions deal accompanied by other interesting info.
http://tiny.cc/cOvlo
Didn't Jimmy Hoffa do exactly the same thing?
Buck Naked
(not a cop)
Unfortunately, to get this you have to be related to the right people. Most of us aren't even close. Let's vote next year to replace the stuttering prick.
When is he going to be indicted????Or is the crime family off limits??? This city is a joke.
Were there any uniformed CPD and marked squad cars at the memorial for the four murdered officers at the Tacoma Dome this afternoon?
It's not just us disgusted by this incident. A relative, retired from a fed job ranking higher than J-Feds just shakes his head with a disgusted look on his face and says "He's yours now kid"
Allison Davis loves real estate....
DV Realty Advisors/DV Urban Realty lists it's offices as 3619 S. State.
This is also the home of:
Jared Davis
JCJ Family LLC
DV Property Management LLC
DV Roosevelt & Michigan LLC
DV PARK BOULEVARD RETAIL LLC
DV URBAN BROADWAY MEZZ, LLC
DV WATERLOO STREET, LLC
DV 1411 SOUTH MICHIGAN AVENUE, LLC
DV 217 NORTH JEFFERSON, LLC
DV 7100 SOUTH SHORE DRIVE, LLC
DV CHICAGO DEFENDER, LLC
DV Century Center LLC
The question is how many of these LLC's were used to spread our money around while still reporting a loss?
Well is this is all the is going to happen over the mismanagement and theft from our pension funds I am outraged.
Dan Shields said, "I will take Daley out". Danny better get Mikey to turn the fire up, otherwise nothing is going to happen and we all get fucked again.
Will we even have a pension???
What about Mr Vanecko and Patrick Daley's sewer company fraud?
Is President Barack Hussein Obama going to pardon this "minor" transgression?
What if the Russian Mob decides to hold Patrick Daley hostage in Moscow for the loss of the 2016 Olympics?
Alot of people are very pissed off that they invested tens of millions for (0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000's)!
Don't think that the boys aren't going to move on that one.
When will Mr. Vanecko take up residence in Moscow?
Oh and another thing.......
Robert Vanecko's corporation is listed as......
OCCAM-DV LLC
OCCAM CAPITAL INC.
all with an address of..
5912 N FOREST GLEN AVE
CHICAGO, IL 60646
Mark Vanecko used to own
OCCAM-MSS but has been involuntarily dissolved. The above address was listed for this LLC as well.
OCCAM-DV lists 1 associated property with pin number 20-22-206-031-0000. The pin comes back to a vacant lot at 6342 S Evans.
That property may one day become profitable, right after the Credit union becomes the best deal in town for the police.
Im not holding my breath.
Congrats to those of you chosen to become canine handlers! Don't listen to those bitching about it,face it you have it and they don't! That's why some kids go to Loyola and Mt Carmel and some go to Fenger or Taft. Face it that's just the way it's done in this city. For the whiners they got IT you DON'T !!!!!!!!
Fuck richard m. daley & all his thieving family and cohorts. May they all burn in hell for eternity.
Chicago will record the daley name in it's history in the same manner Benedict Arnold is remembered in U.S. History.
It's a shame we can't lynch the whole crew of dirty bastards. !!!!!!!!!!!!!!!!!!!
To the gallows with Robert Vanecko and Patrick "Sluggo" Daley. Sue their estates for every dime.
Does anyone really believe that Vanecko and Davis actually put 2.6 million of "their own money" into this sham company. Please. Property Deeds, promissary notes, equity pledges, maybe, but there is no way on God's green earth that these two crooks put 2.6 million dollars in the pot. I will guarantee that their paper investment, if there ever was one, was retrieved long ago. That means they have walked away with the whole 3.7 million, and there is more to come. Meanwhile, our fund's 16 million, and the other 52million from the other funds, will all be lost and they can blame it on the real estate crash. A big thanks to our pension trustees for giving away our money. Hats off to The Fire Dept. Trustees who had the balls to stand up to the pressure and keep these crooks out of their fund.
Daley and company Rob the Taxpayers Blind, and all the Croked FEEB-FEDS do is look the other way.....
Anonymous said...
When is he going to be indicted????Or is the crime family off limits??? This city is a joke.
No, it's the Chicago voters and the lame-assed Feds investigating Chicago corruption that are the JOKE....
A big thanks to our pension trustees for giving away our money. Hats off to The Fire Dept. Trustees who had the balls to stand up to the pressure and keep these crooks out of their fund.
12/08/2009 08:02:00 PM
Yeah, but they all got a steak dinner at Ruth's Chris Steakhouse.
p.s. Hauser ate Twice!
Anonymous said...
HAPPY ANNIVERSARY SGT HITNEY!
12/08/2009 10:10:00 AM
Sounds like it's about time for a Merit promotion to Lt. for Jitney Hitney!
Anonymous said...
Congrats to those of you chosen to become canine handlers! Don't listen to those bitching about it,face it you have it and they don't! That's why some kids go to Loyola and Mt Carmel and some go to Fenger or Taft. Face it that's just the way it's done in this city. For the whiners they got IT you DON'T !!!!!!!!
12/08/2009 07:13:00 PM
Can we assume, from your dubious grasp of grammar and punctuation, that you flunked out of Fenger or Taft?
I honestly believe that the reason the Feds don't go after Daley etc is the sucking wound it would create. Unravelling the city would be a lot like taking apart a giant rubber band ball,all parts are so tightly woven you can't get it apart without destroying it.
Long post here, but important stuff
Other questions to ask:
The Pension Plan has an investment consultant; Ennis Knupp I believe. Did they approve this investment? Or does the Plan use a seperate consultant to help them make real estate investments. Townsend perhaps? What is their role in this? More importantly, when do their contracts come up, perhaps the plan needs advisors who have the retirees benefits in mind, not keeping certain trustees happy.
Did DV use any "placement agents" to win this business? These guys are the fixers in the investment business. Did DV pay ANYONE to help access the city plans? Seems pretty obvious a deep inside LaSalle Street type person had to help, since not one investor from anywhere outside of Chicago would touch this with a ten foot pole.
Vanecko resigning should be considered a triggering event to something know as "key man clauses" Typically he would have to gain investor approval to leave or the fund has to stop investing. Make sure an investment attorney has reviewed this not some hack labor attorney or benefits attorney, but a real securities attorney from Kirkland or Winston.
Extremely unlikely that they put their own money in as skin in the game, more than likely a fee offset
There is a strong case for fraud proceedings given that the vanecko/daley was not disclosed, if not legal, its certainly something the SEC should take a long hard look at.
The job you guys do is hard enough, don't let these weasels use you any more than they have
Anonymous said...
Blame the Pension Board
12/08/2009 09:28:00 AM
Blame in particular Ken Hauser and Steve Robbins. Robbins is the former rep, replaced by Mike Shields. Robbins had the gall to come to an FOP meeting and defend his vote on the Davis/Vanecko deal as a "good investment."
Hauser is useless, was useless and always will be useless. Hauser needs to be replaced at the next possible election. That he has stayed in his position as long as he has is a crime.
How can anyone believe in the "SYSTEM" anymore when the defenders of the "SYSTEM" have been robbed themselves?
Nothing is legitimate anymore in Chicago!
The Feds were supposed to safeguard "US" (the common folks) against this. The Feds have failed us, there is nowhere to turn anymore.
Incidents like this make me understand the sentiments of the early New England colonists, when they abdicated from the King's taxation and held the Boston Tea Party.
If this continues this nation is on a collision course and its very destiny is up-for-grabs.
Just Remember, that throughout recorded history, that every empire and emperor has fallen!
We are NOT blind!
Shields fight the battle, it is now time to stand behind Mike Shields and let him bring this to the media and the US Attorney's Office.
All of us need to be standing behind Mike when he holds his news conference and hands the documents over.
This is the only way to stop the theft of our pensions.
The Shields brothers have done more to thwart the Daley Crime Empire than any of you whiners ever could or would do.
Thanks to Mike and Danny Shields for bringing attention to this flagrant theft of our pension by Vanecko,Daley and Huberman.
Danny, without your knowledge and information on the Daley Crime Cartel, most of us in patrol would be lost.
I used to beleive you were nuts when you said you would take Daley out. No longer, I believe and will follow brother.
Mike keep bring the fight to Larry Yellen and the Fox Network. One of these days you will be on Rush Limbaugh or Sean Hannity exposing these crimes to the entire nation.
You boys are my heroes!
An open note to USA Patrick Fitzgerald,
Mr. Fitzgerald,
You are a true breath of fresh air in the Capitol of Corruption. I commend you on your initial initiatives to combat corruption and eradicate its national domestic base.
Please finish what you have started. Chicago is in desperate need of reform and you are the only individual capable of bringing it home. We are amuck in corruption and rife in scandal. Please enforce the law and stop the bilking of the taxpaying public.
Everything is for sale in Chicago, just name the price, nothing is sacred anymore. People's lives are for sale to the highest bidder via pension thefts and "CLOUT".
We the People, demand that you "the Representative Enforcer of the People" do your job and stop it.
Signed,
2.8 MILLION Chicago Citizens
Do the Feds see the sick and crookedness of this? Holy Fuck is it obvious!
Read Illinois tax laws for doing business as an LLC. If you aren't able to easily find out everything you need to know about this dirty Vanecko business, he should be looked into by the IRS. Maybe they'll get him and Allison the same way they got Capone.
IT MUST BE FUCKING NICE TO "USE" OTHER PEOPLES MONEY TO INVEST OR "GAMBLE" TO MAKE MORE MONEY FOR YOURSELF!
JP AND VANECKO AND EVERYONE ELSE CAN DO IT......SOME PROSPER AND ACCIDENTALLY GET CAUGHT OTHERS GET A WAY WITH IT..ANYONE ELSE GUILTY OF THIS....AMERICAN DREAM OR WAY OF LIFE....?
MEANWHILE ...
WHERE IS MY RETRO I EARNED AND WHERE IS ANY STIMULUS CHECK?
ANYTHING TO PAY FOR THE DEBTS ACCRUED OVER THE YEAR(S) TO CUT THE COST OF LIVING PROBLEMS FROM THE BAD ECONOMY AND OR HAVING TO LIVE IN THE CITY WITH THE ASTRONOMICAL TAXES WE HAVE TO PAY..
HOW ABOUT SOME RELIEF FOR EVERY CITY WORKER THAT HAS TO LIVE HERE?
WISH I COULD HAVE 1.1 MILLION BACK FOR INVESTING WHAT WAS NOT MINE FROM THE BEGINNING...
HOW ABOUT GIVING ME SOME OF THE PROFITS MADE ON THE MONEY "USED" BY JP OVER HIS TIME IN OFFICE?
I AND MANY OTHERS PAID DUES SO HE AND MO'T COULD"USE" THE PBPA MONEY TO PROFIT AND GAIN...TO GET LOANS AND FLIP HOUSES IN WILDWOOD..FOR SOME BIG BUCKS WHILE I CAN'T GET A LOAN AS MY CREDIT STINKS FROM TRYIG TO DO THINGS LEGIT!!!!
BOY I WONDER WHO ELSE HAS SCAMMED THE MASSES AND "OUR" MONEY AS WE TRUST PEOPLE WITH OUR "DUES" AND FUNDS WE PAY INTO...
I CAN GET MY OWN FUCKING LAWYERS I DON'T NEED THE LAUNDROMAT SKILLS OF THE FLUNKY KUZA'S AND CO.
I SHOULD RE-JOIN FOP OR WHAT ARE THEY SCAMMING?
OPEN ALL THE FUCKING BOOKS!!!
WHO DO WE TRUST?
THE LIEUTENANTS UNION?
DISGRUNTLED SGT.
Oh that ...
That is so Vanecko can INVEST in the OBAMA vacation "paradise" (20 million I believe initially..)
Vanecko/Daley want a piece...
/08/2009 09:59:00 AM
Anonymous said...
HAPPY ANNIVERSARY SGT HITNEY!
12/08/2009 10:10:00 AM
Not only blondie but the show down between Jimmy Carroll and Reyes Moran. That was news unto itself.
Jimmy, you are steppin' in jet fuel!
As usual, the feds see nothing, hear nothing, an will as often do nothing. I won't even go into the media turning a blind eye. I just wonder how uncle Richie can have so many family members on the payroll, and still claim that he knows nothing...hell, I have relatives that live in Minnesota, South Dakota, and Colorado, and know more about their lives than the 'shanks knows about his peoples in bridgeport!!!!! And dat ain't no hibity jibbity...mmmm hhmmmm
And just why is Patrick residing in Russia now? Is his tour in the Army over? Hmmm? Or is he about to get hit with a Grand Jury Subpeona? Or does Mr. Fitzgerald have some questions for him?
Anonymous said...
Below is a link to a 2007 article outlining the terms of the DV Urban Realty / Chicago Pensions deal accompanied by other interesting info.
http://tiny.cc/cOvlo
Didn't Jimmy Hoffa do exactly the same thing?
Buck Naked
(not a cop)
12/08/2009 03:24:00 PM
Hey Buck!!! Vandalay Industries just called...they wan you to interview tomorrow at 9. Better wear the latex suit!!! and dat ain't no hibbty jibbity...mmmm hhmmmm
Anonymous Anonymous said...
Well is this is all the is going to happen over the mismanagement and theft from our pension funds I am outraged.
Dan Shields said, "I will take Daley out". Danny better get Mikey to turn the fire up, otherwise nothing is going to happen and we all get fucked again.
Will we even have a pension???
12/08/2009 05:32:00 PM
Nice try to try to throw one of the shields' brothers under the bus. He didn't say that , but I do think he said something about taking out the head of the pension (I think his name is Ron Gallager). You know that pasty looking guy at the last meeting that Mike pointed out who allowed Weis and DV urban reality into our pension to begin with.
hennessey williams... hahahah.. thats a good laugh.
Shortshanks is a CI for the Fed. Therefore all his rat family are immune.
Thanks Fitz.
Do you think any of this matters at all to anyone other than the few informed coppers who read this blog? My hillbilly neighbors in Edison Park will be tripping over themselves at the polling place to re-elect this inbred buffoon who couldn't pass the entrance exam at St. Ignatius!
Where are the Feds ????? They have to get involved . There must be something they did wrong . They actually stole our money .
Fees should be returned, period.
And just why is Patrick residing in Russia now? Is his tour in the Army over? Hmmm? Or is he about to get hit with a Grand Jury Subpeona? Or does Mr. Fitzgerald have some questions for him?
I have a friend in RUSSIA, will bring him home to face Grand Jury for a small fee
Anonymous said...
How can anyone believe in the "SYSTEM" anymore when the defenders of the "SYSTEM" have been robbed themselves?
Nothing is legitimate anymore in Chicago!
The Feds were supposed to safeguard "US" (the common folks) against this. The Feds have failed us, there is nowhere to turn anymore.
Incidents like this make me understand the sentiments of the early New England colonists, when they abdicated from the King's taxation and held the Boston Tea Party.
If this continues this nation is on a collision course and its very destiny is up-for-grabs.
12/08/2009 09:15:00
***********************************
You know many of you repeatedly ask why the Federal Government is not doing something, and at the same time castigate Fitzgerald and others. I basically agree that the Feds should be aware of what is going on, as they have been many times in convicting numerous Chicago officials. I'm afraid though, that many of you do not understand the relationship between the Federal Government and the various states. This is a republican form of government. What that means is that the Federal Government does not oversee the actions of the states, just as the states do not oversee the actions of the Federal Government. Also remember that the US has an entirely different set of laws than the State of Illinois, and that the US laws generally do not include such things as do the states lik Murder, Theft Robbery, etc., except in specific circumstances. In shourt the Feds cannot act until and unless a Federal law is broken. Now whether or not that has occurred is a different story. I am not an attorney and I certainly do not understand all ramifications of federal law. I do know however that there should be a reluctance by the Federal Government to tread on responsibilities that should properly be those of the states. It is that old states' rights stuff again. Remember too, that in most cases, the recent Governer being an exception, the Feds do not act until they have everything ready to go. Hence their great conviction rate.
Incidentally the colonists of New England rebelled against the King. They did not abdicate anything. It is kings that abdicate.
Not being a cop can somebody help decipher the meaning of the "latex suit" reference, if there is any?
Vandalay Industries, er that's George Castanza, not Buck.
-Buck
This is Bullshit Where are the FEEBS? Just WHAT do they DO anymore?
12/08/2009 09:28:00 AM
...NOTHING, because they have one as a play super in our dept and the pres of the USA is an adopted Chicagoan who makin sure the machine isn't being investigated. don't expect ANYTHING. Chicagoans are screwed until Daley his minions kick the bucket. Then we just have to make sure none of his relatives sneak in, i.e. the kid in Russia.
12/08/2009 09:15:00 PM
Anonymous said...
Just Remember, that throughout recorded history, that every empire and emperor has fallen!
12/08/2009 09:16:00 Pm
.....but in the meantime they plunder and pillage.
ALL potential investors/company principals should be screened by the pension board for relation by blood or marriage to any elected city, county or state official.
If they're related, they should be ineligible to receive our money.
If for no other reason, it simply looks shady. Aren't Chicago & Illinois already the laughing stock of the nation because of all the corruption?
"Most states have Democrats and Republicans. Illinois has defendants and informants."
- Jeffrey Toobin, CNN
"I have a friend in RUSSIA, will bring him home to face Grand Jury for a small fee
12/09/2009 08:56:00 AM"
in how many pieces?
in how many pieces?
12/09/2009 10:54:00 PM
over what period of time? a nose now, a finger then, a finger later on, a hand next month, an arm the next month, it will all add up eventually! he already gave up the one ARMY, so somewhere along the line we will get his LEGGIES!
Do you mean our Pension Board that is siphoning money from our pension fund to send the attractive secretary to law school when we can't afford to send our own kids? That Pension Board? More authority?
You know what I wish? I wish those "Nosey Parkers" that are following gullible Tiger Woods around with 300 television cameras and investigative reporters would instead follow our pension board, city council, mayor and the "hired band of cheering, fake reverends" around instead. Now that would be some interesting news. THAT would sell papers.
12/09/2009 10:22:00 AM
I agree with your analysis and I do agree with state's rights. The problem is that Illinois is the most corrupt state in the Union and the people are seemingly incapable of voting the "Corruption Machine" out.
I too, am not an attorney. I believe that there a case could be assembled under the R.I.C.O. statutes that could and would dismantle this corruption machine.
As for abdicating you are correct.
To hear him talk you'd think he was some cutting-edge, financial wizard instead of the dim-witted, nepotistically gifted Jethro Bodine that he actually is. My favorite part is that the media goes along with this fantasy and perpetuates it. Hello Real World, He's a moron and a bagman for his uncle, our theiving mayor. The fact that he's so dumb is what got him caught! Not even our crooked, mob-loving media could save this kid.
If it look's like a shady, it walks like a shady, and it talks like a shady then it must be a shady.
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