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.


* Ridiculous allegation withdrawn
* *** UPDATED x1 *** Question of the day
* Adventures in governing
* Rauner on Obama: "One of the most anti-business presidents we've had in the last 70 years"
* Callis recycles ad, reportedly lowers buys
* *** UPDATED x2 - Frerichs responds - Cross responds *** Frerichs says Cross is Rauner's "lapdog"
* Poll: Rauner leading by 6, Topinka up by 22, Cross up by 10
* Pumping up the base
* NRI head will testify next week
* *** UPDATED x2 *** Another day, another GTCR revelation
* Rate Rauner's three new TV ads
* SUBSCRIBERS ONLY - Supplement to today’s edition: Congressional crosstabs
* SUBSCRIBERS ONLY - Today's edition of Capitol Fax (use all CAPS in password)
* Good morning, everybody!
* 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

          
        * Samsung bends a Note 4, cause the iPhone 6 Plus can’t take it?
        * iPhone 6 vs LG G3 – This was a tough one
        * Carved Nexus 6 vs Nexus 4 and Nexus 7 size comparison, new renders
        * Lumia 735: On sale now
        * Apple CarPlay goes live in Pioneer NEX and AppRadio systems, giving real people early dibs for once
        * NVIDIA Tegra-powered Honda Connect infotainment system introduced
        * Nexus 6 gets a massive set of mockups and leaked photos

        * Four Alternatives to Like-Gating on Facebook
        * Samsung Decides To Bend The Galaxy Note 4 (Video)
        * Shazam For Windows Phone Gains Cortana Support
        * Sony KW1 Confirmed To Sport Curved Sensor
        * Microsoft Not Satisfied With Xbox One Sales In Japan, Vows To Try Harder
        * Rhino GoPro Poles And 360 Swivel Action Camera Mount (video)
        * iOS 8.1 And Apple Pay Coming October 20th (Rumor)

        * Third-base coach McEwing to interview for D-backs job
        * Guide to American League rooting interests for White Sox fans
        * Anderson, Edwards prospects to watch in AFL
        * Manager notes: How Robin Ventura and Chris Sale get along
        * Voting underway to decide Hank Aaron Awards
        * Development of young core in '15 can define Chicago's future
        * Improved White Sox take important step in 2014


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

        Archives
        October 2014
        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


        * New Poll Shows Governors Race Is Close..
        * The 10 Most Vulnerable House Members..
        * Around Town..
        * Governor Quinn Announces Successful First Year .....
        * Ex-anti-violence group director to testify at I.....
        * Can Chicago's taxi industry survive the ridesha.....
        * Fiscal Policy Report Card on America’s Governor.....


        * AP PHOTOS: Lines linger for famed Chicago hot dogs
        * Official: Donations drying up for Lincoln library
        * Respiratory virus seen in 4 deaths; role unclear
        * Obama in Chicago for political appearances
        * Flight operations at Chicago airports improving
        * Governor candidates' views on Obama library evolve
        * Illinois Woman, son charged with meth conspiracy
        * Ex-Chicago police commander getting out of prison
        * U of Chicago increases aid to needy students
        * Man charged in 2009 death of Chicago woman

        * Governor candidates’ views on Obama library evolve
        * Obama in Chicago for political appearances
        * Donations drying up for Lincoln Presidential Library foundation, chairman tells lawmakers
        * ALPLM at center of legislative hearing in Chicago
        * Former head of anti-violence program to testify
        * Appellate court: State workers owed back wages
        * Quinn leans on top Democratic support — Obamas, Clinton
        * IDOC investigation prompts state prison warden to retire
        * Lawmaker panel plans to resume anti-violence program investigation
        * Quinn touts first year of Affordable Care Act

        * Blade runner: She took up hockey at 40
        * Accessorized for the office
        * Shrimp farming in Indiana: Believe it
        * 10 Things to Do
        * Man with Ebola in U.S. flew part of trip on United


        * Tragedy demands review of DCFS
        * Ease up on school budgets permanently
        * Keep the heat on political corruption
        * Burge leaving prison, but a mess remains
        * Emanuel prods sister agencies to mandate $13-an-hour wage
        * The thug life runs deep
        * Vigil held for Skokie teens; two Niles North seniors shot, one killed
        * Taxi reforms steer in the right direction
        * Thunderstorms early Thursday could disrupt O’Hare, Midway flights
        * Northeastern Illinois University unveils flashy new building on NW Side


        * Coyote who got stuck in car grill expected to recover
        * Few red light camera refunds, spikes unexplained
        * Obama in Chicago area for fundraiser, speech
        * 5 wounded in separate city shootings
        * Storms may strain air traffic system still recovering from fire
        * Chicago, suburbs tell U.S. to tighten crude-oil train rules
        * Man dies in shooting incident at Des Plaines gun range
        * Despite cancellations, O'Hare leads in flights
        * Aurora releases FAA fire 911 call
        * New Lenox war memorial vandalized


        * LLCC Announces New Ag Programs
        * Tim Landis: Bike Lanes, Medical Marijuana And Meat
        * Clock Ticking On Illinois Prison Crowding
        * Decatur Unemployment Shows Biggest Drop In Nation
        * Quinn Lauds Affordable Care Act, Backs Down From State Marketplace
        * A Redo On Redistricting
        * Polls Showing Illinois Governor's Race A Draw
        * Bruce Rauner, Before He Was A Candidate (Author Interview)
        * Listen to State Week - September 19, 2014
        * Clearing The Air On Clean Air Plan


        * Our View: Lawmakers, stay away from the IHSA
        * On Lincoln’s Side: Lincoln gambles on Nevada
        * Brian Gaines: Why Illinois needs redistricting reform
        * George Will: A new case for term limits
        * Eugene Robinson: Get the authorization
        * Bernard Schoenburg: The long, short of public perceptions of candidates for governor
        * Governor candidates’ views on Obama library evolve
        * Obama in Chicago for political appearances
        * Donations drying up for Lincoln Presidential Library foundation, chairman tells lawmakers
        * Former head of anti-violence program to testify


        * Old style
        * Open Line
        * Harold Crain
        * Dr. Earl Patton
        * William 'Bill' Hubbs Sr.
        * Dorothy Thompson
        * DeAndre Atkinson
        * Orville Alms Sr.
        * Wendell Bremer
        * Sheila Winland


        * Football MVPs: Week 5
        * Blackhawks' Mashinter has a fighter's chance
        * Girls tennis: Wednesday's results
        * Girls volleyball: Wednesday's results
        * Girls golf: Wednesday's results

        * Representative Jan Schakowsky Sends Letter...
        * Rep. candidate pushes to uphold marriage b...
        * Reps. Schakowsky and Waxman Introduce Bill...
        * Statement by Representative Jan Schakowsky...
        * FAA Rejects Call For New O'Hare Noise Stud...
        * Representatives Quigley, Duckworth, Schako...
        * Representative Jan Schakowsky Statement on...
        * Representative Jan Schakowsky Statement in...
        * U.S. House Passes Resolution Condemning An...
        * Representative Jan Schakowsky Statement on...

        * Illinois gets $19 million for justice prog......
        * Illinois gets $19 million for justice prog......
        * Sources: Alleged FAA saboteur high when he......
        * Sources: Alleged FAA saboteur high when he......
        * Sources: Alleged FAA saboteur high when he......

        * Governor race focuses on labor, unemployment...
        * Israel On The Outs Over Iran?...

        * The Week In Chicago Rock
        * Local Music Notebook: Doing The Jacksons
        * The Beachwood Radio Sports Hour #19: Rodgers Playing At Cutler-Like Level
        * The College Football Report: The Fighting Costanzi!
        * Fantasy Fix: Running For Their Lives
        * The Geek Guests On WGN Radio 720 AM Thursday Night
        * Group Plans Thursday Protest Of Controversial Speed Camera
        * DoS and Don'ts
        * Signatures far outnumber votes in school board election. Hinsdale clock is ticking.
        * An urgent message from the teachers of Hinsdale District 86.


        * Screwed Up
        * Jobs Governor
        * Wake Up
        * Rauner Launches Three New TV Ads
        * Quinn must take lame duck tax vote off the table




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