* Bruce Rushton at the Illinois Times…
State Sen. Bill Brady, R-Bloomington, helped talk a physician into making a $1 million loan in 2010 while he was running for governor, according to a court ruling entered Tuesday in Springfield by U.S. Bankruptcy Court Judge Mary Gorman.
The money loaned to Robert Brady, one of the senator’s brothers, was never repaid. Gorman ruled that the loan made to bail out a construction company owned by the senator and two brothers was made under false pretenses and so the obligation cannot be discharged via bankruptcy.
Dr. Tom Pliura loaned the money predicated on promises that there was plenty of collateral in real estate if the loan went south, according to Gorman’s decision. In fact, the real estate, four apartment buildings in Normal, were mortgaged and underwater.
Contrary to what Robert Brady told the doctor when the loan was made, the buildings were owned by limited liability corporations as opposed to Robert and Edward Brady, also a brother of the state senator. According to Sen. Brady’s statements of economic interests filed with the secretary of state, the senator, dating back to 2010, has stock in one of the corporations and a “membership interest” in the other.
Ultimately, the buildings were turned over to a bank in lieu of foreclosure, and Pliura received nothing. With interest, the doctor says that he is owed more than $1.8 million.
Oof. And, yes, that’s the same doctor who tried to hand out free COVID-19 “tests” in Champaign this week. We’ll have more on him later.