Guess Who SHOULD be Going to Jail
A Chicago venture capital fund whose projects paid more than $1.2 million to former Mayor Richard M. Daley’s son has been taken over by the federal government, which says the fund owes taxpayers $21.4 million.
Cardinal Growth L.P. — which was run by attorney and former federal prosecutor Robert Bobb Jr. and accountant Joseph McInerney, a close friend of Daley’s son, Patrick Daley — borrowed nearly $51 million from the U.S. Small Business Administration over the past decade but has been unable to repay $21.4 million, court records show.
U.S. Attorney Patrick Fitzgerald filed the civil lawsuit on behalf of the federal agency on June 15. The SBA is seeking to liquidate Cardinal Growth L.P. because of mounting losses that threaten the fund’s ability to repay the taxpayer money it got from the agency.
But remember, greedy teachers and coppers are the cause of all financial problems.