SUBSCRIBE to Capitol Fax      Advertise Here      Mobile Version     Exclusive Subscriber Content     Updated Posts    Contact
CapitolFax.com
To subscribe to Capitol Fax, click here.
Half a million bucks disappears from Stroger account

Tuesday, Nov 27, 2012

* I’ve looked over his filings this morning and they’re a complete mess. From the Sun-Times

Former Cook County Board President Todd Stroger is blaming an accounting error for the sudden disappearance of $500,000 from his campaign filings this year without an accompanying explanation of where the money went.

The money, which was left over from the campaign in which Stroger lost re-election to current board president Toni Preckwinkle, was invested in Amalgamated Bank by Friends for Todd H. Stroger for President of the Cook County Board campaign. The money appeared on campaign filings in the first quarter of the year but wasn’t reported in the second quarter, said Jim Tenuto, assistant executive director at the Board of Elections.

A board staffer noticed the discrepancy and sent Stroger a letter asking what happened to the money, “which is something we routinely do,” said Tenuto. “This is not an investigation or an accusation, it was more of an administrative issue,” he said.

Stroger said Monday evening the money was used to pay campaign bills and an accounting error was to blame for the discrepancy.

* OK, if you go back to the end of 2008, Stroger reported $526,747.08 in investments and $465,227.33 in outstanding debt, including $350,000 to himself, which he incurred in 2006.

On April 11, 2009, Stroger appears to have cashed in those investments and deposited the money into his campaign account. On June 30th of that year, he reported no investments on hand and $640K in the bank. He also reported just $115,227.33 in debt, having paid off his loan to himself.

On August 21st, 2009, Stroger put $500,000 into a couple of CDs.

Stroger entered the 2010 campaign with $152,554.92 in cash on hand, then raised another $294,685.00 during the first half of the year. He spent $341,107.73 and was left with $106,132.19 plus his $500K in investments.

But then he filed an odd amended return for the first six months of 2010. The only expenditures listed in the amended return were for a $500,000 deposit into an Amalgamated Bank of Chicago investment fund on June 30th. But he also shows a receipt of $621,632.19 from Amalgamated Bank of Chicago on the same day.

And that’s pretty much where I gave up. The investments, as noted above, eventually “disappeared” without explanation. They appear to have existed at one time, but it’s gonna take somebody with more time than I have to figure this one out.

Very weird.

- Posted by Rich Miller        


31 Comments
  1. - Anon - Tuesday, Nov 27, 12 @ 10:19 am:

    There are more discrepancies in earlier years. The board needs to dig deeper.


  2. - Oswego Willy - Tuesday, Nov 27, 12 @ 10:27 am:

    “Oh, the 500 Large? Yeah, that’s ‘Clerical’. If you don’t carry the ‘7′, and use the ‘distributive propertty’, ya know, like in Algebra, then you don’t see it. Now, did you find it?”

    “If a County Board chairman, going 35 mph, goes 15 miles to the East Bank Club, and the Couny Chairman’s ‘clerk’ makes a ‘clerical’ error going 100 mph to the nearest ’shoe box’, where did the $500,000.00 go? Show your work”

    “Look anybody can out-math $500,000.00. Anybody.”

    “Todd Stroger was told there would be no ‘math’ when doing the D-2s.”

    “Can we just put that down as ‘miscellaneous’ like usual?”

    “Did you SEE the yard signs and t-shirts? There is your $500,000.00 right there …”

    “Go down to the Dunkin’ Donuts and get receips, they should total … roughly … $500,000.00″

    “Look, I said, ‘500.00′ for ‘walking around money’, not $500,000.00! That must have been a huge stack of non-sequential twenties!”

    “Did someone chaek on Uncle Billy? I think he talk with Mr. Potter before that deposit!”


  3. - Oswego Willy - Tuesday, Nov 27, 12 @ 10:32 am:

    “Did someone check on Uncle Billy? I think he talked with Mr. Potter before that deposit!”

    Better


  4. - so.... - Tuesday, Nov 27, 12 @ 10:38 am:

    There’s definitely something weird going on.

    With regard to the issue you raise, Rich, with his amended 2010 report, it looks like he took out a loan from Amalgamated Bank and rolled over his $500k investment on the same day.

    The money that’s currently missing is more interesting.

    In his report for the first quarter of 2012 (1/1/2012 to 3/31/2012) he reported $500k in investments and $215,227.33 in debts. But in the report for the second quarter (4/1/2012 to 6/30/2012) both the $500k in investments and $215k in debts are gone. So he may have used the investments to pay off his debts, that’s fine. But that still leaves $285k missing. He reported zero expenditures in the second quarter, so he didn’t spend it.

    Three possible scenarios:

    1) He really is a sloppy record keeper, and the money (or part of it) is still there.

    2) He spent it all, either through paying off undisclosed debts (which is a problem since all debts are supposed to be disclosed) or new expenses that arose in the second quarter (which is unlikely because he wasn’t running for anything, and a problem since he’s required to disclose expenditures).

    3) He took the money.


  5. - Anon - Tuesday, Nov 27, 12 @ 10:49 am:

    I don’t work for them, but I noticed this news was broken by the new DNA Info start-up yesterday afternoon and others then followed. Kudos to them on making news in their first day.


  6. - Responsa - Tuesday, Nov 27, 12 @ 10:49 am:

    $500,000 is kind of a lot of money to just sort of have “disappear”. It’s a nice round number though. It’s interesting that Todd has decided he will not run for the JJJ seat after all because he wants to spend time with his growing children. There’s probably not any connection between that political decision and the allegedly missing dollars.


  7. - soccermom - Tuesday, Nov 27, 12 @ 10:51 am:

    This is shameful and an investigation should begin. There is no point to campaign finance law if there are no consequences when it is so blithely disregarded.

    Todd Stroger was put in charge of a $3 billion government. He raised enough money to hire someone competent to track his campaign expenses — although hiring competent people does not seem to have been his strongest suit.

    Rich, thank you for looking closely at these forms; perhaps someone in law enforcement will follow your example and take action.


  8. - wordslinger - Tuesday, Nov 27, 12 @ 11:01 am:

    I suspect some CPAs from the Justice Department just got a little busier.


  9. - Responsa - Tuesday, Nov 27, 12 @ 11:02 am:

    Is it cynical that I immediately suspected someone within the Chicago democratic hierarchy (who has known about this for a while) is just doing what needs to be done to winnow the number of potential candidates for the JJJ congressional seat? Nah. That’s not being too cynical. This is Chicago politics.


  10. - Chicago Bars - Tuesday, Nov 27, 12 @ 11:02 am:

    I’d go with sloppy record keeping. His own finance team managed to double count $90,000,000 in tax revenue during one of the last Cook County budgets and nobody caught it until Preckwinkle’s administration took over. Sometimes it’s rocket science, sometimes it’s fraud, but sometimes it’s just bad double entry accounting.

    http://www.nbcchicago.com/blogs/ward-room/preckwinkle-county-90million-123683574.html


  11. - helen franklin - Tuesday, Nov 27, 12 @ 11:08 am:

    Trust me when I say the tax auditors of the world will be all over this??

    he may be the next one to resign due to miss used campaign funds???


  12. - Oswego Willy - Tuesday, Nov 27, 12 @ 11:13 am:

    ===he may be the next one to resign due to miss used campaign funds??? ===

    He doesn’t have to resign, the voters of Cook County decided that long ago.


  13. - Oswego Willy - Tuesday, Nov 27, 12 @ 11:16 am:

    “Dear CapFax,

    A half a ‘mil’ missing? That ain’t nothing. When you start talking ‘real’ money missing, look me up.

    Sincerely,

    Rita Crundwell
    Former Dixon Treasurer
    ‘Guest’ of the Federal Government”


  14. - Ann - Tuesday, Nov 27, 12 @ 11:51 am:

    You know, Rich, if Oswego Willy ever gets his own blog, I don’t know what the fun will be in reading yours anymore. Unless you’re also Oswego Willy, in which case more power to you.

    I note that Ms. Crundwell is not yet a guest of the feds, on account of she’s free until her sentencing hearing next February (14th–Happy Valentine’s Day!) and probably will get some time to report after that. I also found the delightful blog, http://www.ritacrundwell.com/


  15. - bored now - Tuesday, Nov 27, 12 @ 11:59 am:

    i dunno, but the people around todd did seem to be particularly inept…


  16. - Oswego Willy - Tuesday, Nov 27, 12 @ 12:17 pm:

    - Ann -,

    You are too kind.

    Rich has nothing to fear. This is the place to be, and I am probably only half as funny as I think I am, so I am just lucky Rich lets me hang out.


  17. - foster brooks - Tuesday, Nov 27, 12 @ 12:22 pm:

    Oswego willy, if she (rita crundwell) only took her allotted vacation she would still be stealing. Those dumbells at city hall still don’t have a clue.


  18. - Oswego Willy - Tuesday, Nov 27, 12 @ 12:32 pm:

    “Look - forster brooks -, I took the money and the vacation….

    And all the town got was a Dumb T-Shirt”


  19. - Rudykzooti - Tuesday, Nov 27, 12 @ 12:41 pm:

    He sure raised a lot of money for someone who was obviously going to get throttled in the primary, I mean who would give that clown a nickel?


  20. - walkinfool - Tuesday, Nov 27, 12 @ 12:45 pm:

    Thank you Rich.

    Thorough study of this issue is now unavoidable.


  21. - Oswego Willy - Tuesday, Nov 27, 12 @ 12:48 pm:

    ===I mean who would give that clown a nickel?===

    There are pages and pages of those D-2s of people who though it was wise to invest in Todd Stroger.

    I would have gave, but I thought lighting my fireplace with crisp $100 bills was better and less controversial.


  22. - Jen Sabella - Tuesday, Nov 27, 12 @ 1:08 pm:

    @Anon: Thanks for the shout out! DNA’s story is here for anyone curious (since the Sun-Times didn’t credit us..) http://www.dnainfo.com/chicago/20121126/chicago/state-looks-into-500000-that-disappeared-from-todd-stroger-campaign-fund


  23. - Anon - Tuesday, Nov 27, 12 @ 2:07 pm:

    Rich if you give up, stop calling yourself a reporter….either get to the FACTS or stay out of it. Personal commentary is what is wrong with the media in Chicago anyway.


  24. - Anon - Tuesday, Nov 27, 12 @ 2:08 pm:

    If the State is NOT investigating, who cares????? Did we not read that people?


  25. - Oswego Willy - Tuesday, Nov 27, 12 @ 2:19 pm:

    ===If the State is NOT investigating, who cares????? Did we not read that people?===

    “we hear that Todd Stroger’s fund is ‘light’ a half a million dollars. I say we just let Todd figure it out.”

    I doubt … doubt … this will be the end of it. Either Harry Baily is going to bring a telegram from Sam Wainright, Todd and his people learn “Principals in Accounting I, or maybe as Geroge said, “Someone is going to jail, and it ain’t gonna be me.”

    All alleged, all speculation, but $500,000.00 is a lot of missing bills.


  26. - Irish - Tuesday, Nov 27, 12 @ 2:42 pm:

    Todd Stoger - ” Hello, Mayo Clinic? Can I speak to admissions??


  27. - Irish - Tuesday, Nov 27, 12 @ 2:56 pm:

    OW - nice season pertinant reference. I doubt Todd has a Clarence.


  28. - Oswego Willy - Tuesday, Nov 27, 12 @ 3:03 pm:

    Thanks, - Irish -,

    I was “trying to capture the spirit of the thing”.

    Whenever I think of “lost” money, I think of Ole Uncle Billy handing that envelope to Mr. Potter. If Todd’s Crew uses that reference, then Mr. Capra should get royalites.

    Teacher says, every time a D-2 is light money, a Committee gets its Audit.


  29. - JACQUES CARR - Tuesday, Nov 27, 12 @ 3:16 pm:

    WILL THEY HURRY AND LOCK THAT SOCIOPATH UP! THEY CREATE THESE DANGEROUS PERSONALITIES IN CHICAGO BECAUSE OF LACK OF TERM LIMITS ON TIME IN OFFICE FOR ELECTED OFFICIALS. THOSE PSYCHOPATHS IN CHICAGO LIKE TODD STROGER SHOULD BE PROSECUTED. THEY FANCIE THEMSELVES AS HEIRS TO THRONES AFTER THEIR DAD OR MOM HAS HAD AN ELECTED OFFICE. THIS IS LUNACY ! IT MUST BE STOPPED. THE PATTERN FROM CERTAIN FAMILIES MUST BE NOTICED AND DEALT WITH WHEN THEY BECOME CRIMINALLY AGGRESSIVE AND BEGIN THEY ARE IMMUNE TO DUE PROCESS OF LAW.


  30. - 3rd Generation Chicago Native - Tuesday, Nov 27, 12 @ 4:04 pm:

    Todd can stop entertaining running for the Jackson Jr. Congression Seat.
    Uncle Billy has been laying low since the Fed’s have been breathing down his back.


  31. - Arthur Andersen - Tuesday, Nov 27, 12 @ 5:18 pm:

    DUCK! Loose Wingnuts at 3:16!


Sorry, comments for this post are now closed.


* Where do these people learn to talk like that???
* Suarez stands by her ad, produces evidence
* Question of the day
* *** UPDATED x1 *** Lifestyles of the rich and famous
* A very good point
* Rauner outspent 2-1 on Chicago TV last month
* So far, it's still stuntish
* Politico report: Enyart slipping fast, Callis dumped
* *** UPDATED x1 - Another poll shows single digits *** Poll: Durbin with a single digit lead and slightly below 50
* *** UPDATED x1 - Suarez produces evidence *** A big swing and an even bigger miss
* Schneider up with first TV ad
* This year's best test of party strength
* A boldfaced lie
* Rate Gov. Quinn's new TV ad
* SUBSCRIBERS ONLY - Supplement to today’s edition
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Yesterday's blog posts

Support CapitolFax.com
Visit our advertisers...

...............

...............


Search This Blog...

Search the 98th General Assembly By Bill Number
(example: HB0001)

Search the 98th General Assembly By Keyword

          
        * Sony Xperia Z3 specs leak with 4K video capture
        * Sony’s latest lens-style camera leaks, reveals multi-lens support
        * ASUS Zenwatch to have voice control, cheaper price
        * Apple says iCloud flaw not at root of celebrity photo hack
        * Automate your Mac: The smart way to handle repetitive Mac chores
        * iWatch manufacturing stages confirm a 2015 launch?
        * Vortex VR puts LG G3 inside 3D printed VR headset

        * Only in SF: Of Course, There’s a Burning Man Special at the Car Wash Today
        * Six Factors that Explain Why You Have Off Days When Exercising
        * Heat Seek is Using The Internet of Things to Fight NYC Slumlords
        * UberFRESH Offers a New Meal Every Day for $12 (in Santa Monica)
        * Judge Approves eBay Settlement With DOJ Over No-Poaching Deal
        * LA USD Halts $1 Billion Plan to Give Every Student an iPad
        * Samsung Will Soon Open its Smart Home Platform to Third Parties

        * Season Review: 2014 Charlotte Knights
        * White Sox call up Josh Phegley, Marcus Semien, Jordan Danks, Scott...
        * Prospect Rodon not among White Sox callups
        * White Sox unburden themselves for September
        * White Sox Minor League Update: End of the regular season
        * Noesi looks to continue push toward season's end
        * Williams conveys important message to Little Leaguers


        Main Menu
        Home
        Illinois
        YouTube
        Pundit rankings
        Obama
        Subscriber Content
        Durbin
        Burris
        Blagojevich Trial
        Advertising
        Updated Posts
        Polls

        Archives
        September 2014
        August 2014
        July 2014
        June 2014
        May 2014
        April 2014
        March 2014
        February 2014
        January 2014
        December 2013
        November 2013
        October 2013
        September 2013
        August 2013
        July 2013
        June 2013
        May 2013
        April 2013
        March 2013
        February 2013
        January 2013
        December 2012
        November 2012
        October 2012
        September 2012
        August 2012
        July 2012
        June 2012
        May 2012
        April 2012
        March 2012
        February 2012
        January 2012
        December 2011
        November 2011
        October 2011
        September 2011
        August 2011
        July 2011
        June 2011
        May 2011
        April 2011
        March 2011
        February 2011
        January 2011
        December 2010
        November 2010
        October 2010
        September 2010
        August 2010
        July 2010
        June 2010
        May 2010
        April 2010
        March 2010
        February 2010
        January 2010
        December 2009
        November 2009
        October 2009
        September 2009
        August 2009
        July 2009
        June 2009
        May 2009
        April 2009
        March 2009
        February 2009
        January 2009
        December 2008
        November 2008
        October 2008
        September 2008
        August 2008
        July 2008
        June 2008
        May 2008
        April 2008
        March 2008
        February 2008
        January 2008
        December 2007
        November 2007
        October 2007
        September 2007
        August 2007
        July 2007
        June 2007
        May 2007
        April 2007
        March 2007
        February 2007
        January 2007
        December 2006
        November 2006
        October 2006
        September 2006
        August 2006
        July 2006
        June 2006
        May 2006
        April 2006
        March 2006
        February 2006
        January 2006
        December 2005
        April 2005
        March 2005
        February 2005
        January 2005
        December 2004
        November 2004
        October 2004

        Blog*Spot Archives
        November 2005
        October 2005
        September 2005
        August 2005
        July 2005
        June 2005
        May 2005

        Syndication

        RSS Feed 2.0
        Comments RSS 2.0
        WordPress

        Loading


        * State accepting patient applications for medica.....
        * Rauner criticizes Quinn on veterans..
        * Quinn, Rauner Should Get On Board With Region’s.....
        * Bruce Rauner spends more on wine than average I.....
        * School starts in Chicago with more safety guards..
        * California regulatory judges issue $1.4B fine a.....
        * Governor’s mansion question revived..
        * School starts in Chicago with more safety officers..
        * Can youth football be a safer game?..
        * Ill. Invests $102M On High-Speed Rail Line Upgr.....


        * Gubernatorial candidates discuss jobs, veterans
        * Suburban Chicago man sentenced for killing infant
        * Rauner criticizes Quinn on veterans
        * Illinois woman rescued after day stuck in mud
        * First medical marijuana tally expected next week
        * School starts in Chicago with more safety guards
        * Climatologist says August warmed up in Illinois
        * Quinn: Eating crackers on minimum wage challenge
        * Illinois prisons dealing with backup power issues
        * Fargo is site for national ag research center

        * Rauner criticizes Quinn on veterans
        * Quinn: Eating crackers on minimum wage challenge
        * Illinois prisons struggle with backup power issues
        * State starts accepting medical marijuana requests
        * Audit finds state lax in reviewing eligibility for children’s health insurance program
        * Does the governor need to live in the Executive Mansion?
        * Statehouse Insider: Hands off investments
        * State of unions: AFSCME wins some, loses some on outsourcing
        * State of unions: Domination of Illinois' workforce becomes campaign issue
        * State of unions: Lawmakers approved keeping some workers out of unions

        * A new, improved commuter bike for $325? Well, sort of
        * Hinshaw merger sets up law firm for more growth
        * Thoma Bravo to buy Compuware
        * Thoma Bravo makes its biggest deal yet
        * Medical marijuana applications start rolling in for Illinois


        * 30-year sentence for man who smothered baby, tossed him in garbage
        * New school year brings changes to Gresham
        * 30 years for man who smothered baby, tossed him in garbage
        * Convicted felon accused of fatally stabbing girlfriend 22 times
        * Quinn announces $102 million investment for high-speed rail
        * Quinn to live on minimum wage for a week
        * Moms, dads get kids ready for school
        * Chicago school year begins with more safety guards
        * Ex-cop convicted of protecting crooks is back on public payroll
        * Ald. Pope rehired city worker who quit after sex harassment allegations


        * Home Depot investigating possible data breach
        * Young man critically injured after being hit by train in Lake Zurich
        * Garrett Popcorn sued over 'Chicago Mix'
        * High school placed on lockdown after reports of shots fired
        * Man charged with trying to meet Stickney girl, 12, for sex
        * Lawyer: Federal agents investigating shootings by Chicago cops
        * No bail for man accused of Northwest Side fatal stabbing
        * Today's the deadline to transfer old CTA fare card balances
        * Prosecutors: Man plotted obstruction after slaying off-duty cop
        * Man sentenced to 30 years for dumping baby's body in trash


        * Decatur's Kirkland - From Beethoven To The Beatles
        * Big Predators In Illinois Inspire New Law
        * WUIS/SJ-R Business Report: Casey's Expansion; Parsons In Court; Farmland Prices Fall
        * Opposition Research Key Part Of Political Dark Arts
        * Digging up political dirt? That's their job
        * State Starts Accepting Medical Marijuana Requests
        * Newborn Found Alive In Jacksonville Trash Bin
        * DNR Releases Fracking Rules
        * Listen to State Week - August 29, 2014
        * 'Belleville' The Movie Is NOT A Documentary


        * Rauner criticizes Quinn on veterans
        * Quinn: Eating crackers on minimum wage challenge
        * Illinois prisons struggle with backup power issues
        * State starts accepting medical marijuana requests
        * Couple’s wedding gifts help the community
        * Angela Bertoni: How to raise awareness of domestic violence in October
        * Catherine Rampell: Tech firms’ poor record of diversity
        * Audit finds state lax in reviewing eligibility for children’s health insurance program
        * Does the governor need to live in the Executive Mansion?
        * Our Opinion: Driving into floodwater a deadly practice


        * Police: Highland High teen dies in high-speed Corvette crash
        * Police: Highland High School teen dies in high-speed Corvette crash
        * Clutterbugs to host fall shopping expo
        * SIU enrollment increases for first time in 10 years
        * MJ's minute: Sept. 2, 2014
        * Is it no longer safe to recline your airplane seat?
        * School Daze: the first day - or week - can be a challenge
        * Boil order issued for part of Carbondale
        * Popcorn Days walk/run and fun run
        * UI Volleyball vs North Carolina


        * Barbecue hogs the spotlight at Rock 'n Ribs in Lake Zurich
        * West Chicago Park District ready to show off 70,000-square-foot, $15.5M indoor rec center
        * Zion man sentenced to 30 years in prison for killing 5-month-old baby
        * Rodon won't be joining White Sox -- for now
        * Kane County Cougars announce big projects for 2015

        * Feds fine Jesse Jackson Jr.'s campaign com...
        * IRS enforcement agent numbers could drop t...
        * Jesse Jackson Jr. political fund fined nea...
        * Jackson Jr.'s political fund fined nearly ...
        * 'Celebrity Crime Files' Season Three, With...
        * Welcome to the state's Bult Field - Chicag...
        * US Rep. Lipinski accepting service academy...
        * Dem Explains Why He Voted 'Present' on DAC...
        * Immigration dominates Lipinski's town hall...
        * US Rep. Lipinski accepting service academy...

        * Amtrak demands probe of CN freight trains...
        * Construction Industry Continues to Raise C......
        * Construction Industry Continues to Raise C......
        * Who Leaked Nude Photos Of Jennifer Lawrenc......
        * Who Leaked Nude Photos Of Jennifer Lawrenc......

        * Rauner criticizes Quinn on veterans...
        * Construction Industry Continues to Raise C......
        * Ex-HP chief to speak at Downers Grove orga......

        * O'Brien: Yes We Tan. Obama Concedes to ISIS in "Taupe and Change" suit
        * Rauner Rolls Out Veterans Coalition
        * Hultgren talks health care with community leaders
        * Quinn plays up minimum wage diet to appeal to voters
        * Patriot group organizes 60 day prayer list for November elections
        * Foster: Oberweis' flip-flop on immigration cost him my vote
        * Illinois climatologist: August was warmer than July
        * GOP challenger Brannigan goes after U.S. Rep. Lipinski for anti-privacy vote
        * Equality Illinois, Planned Parenthood says "Doris wants your vCard"
        * Muslims in Dearborn, Michigan and Britain condemn ISIS; Illinois Muslims silent


        * When it comes to jobs and hiring, Pat Quinn is veteran unfriendly
        * Pat Quinn’s Blagojevich-style Hiring Hurts Veterans
        * Rauner Rolls Out Veterans Coalition
        * ICYMI: Capitol Fax: “A Very Good Point”
        * Like All Illinoisans, Veterans Are Hurting Under Pat Quinn




            Hosted by MCS SUBSCRIBE to Capitol Fax Advertise Here Mobile Version Contact Rich Miller