Obama Appraisal Requested by Conner of $4.2 million Kenneth J. Conner vs. Mutual Bank
Kenneth J. Conner, Plaintiff against the financier of Rita Rezko's 5050 S. Greenwood purchase, discloses that he met with FBI agents regarding a possible relationship between adjacent Rezko land and Obama mansion sales prices. He requests the Obama appraisal as relevant to his court case, which centers on appraisal issues pertaining to the land next door to the Senator.
Chicago, IL (PRWEB) November 2, 2008 -- Kenneth J. Conner, Plaintiff against the financier of Rita Rezko's 5050 S. Greenwood purchase, discloses that he met with FBI agents regarding a possible relationship between adjacent Rezko land and Obama mansion sales prices. He requests the Obama appraisal as relevant to his court case, which centers on appraisal issues pertaining to the land next door to the Senator.
Kenneth J. Conner is a former real estate analyst at Mutual Bank of Harvey, Illinois, from whom he seeks $4.2 million for retaliatory discharge (Cook County Case # 2008L011470). Mutual Bank financed the Rita Rezko purchase of 5050 S. Greenwood in Chicago.
While employed at Mutual Bank, Conner conducted an appraisal review of 5050 S. Greenwood. He found the Greenwood lot to be worth a maximum of $500,000 rather than the parcel's appraised value, asking price and purchase price of $625,000. Conner claims retaliatory discharge related to his appraisal review.
Today, Conner confirms speculation that FBI agents have discussed Barack Obama and Tony Rezko with him. Tony Rezko is the husband of Rita Rezko and Guarantor of the Mutual Bank 5050 S. Greenwood loan. Rita Rezko sold a strip of the land to Barack Obama, and the remainder has sold since then. Mutual Bank has no known further involvement.
Conner and FBI agents discussed whether the Rezko purchase may have enabled Barack Obama to purchase an adjacent mansion for $300,000 less than asking price. Conner attributed no less than $125,000 of the $300,000 to an implied supplement created by the Rezko purchase at $125,000 above Conner's assessment of supportable value.
Conner told FBI agents that the seller is not thought by him, nor anyone else he is aware of, to have done anything improper. It is otherwise noteworthy that Rezko and Obama bought their properties on the same day and from the same seller. Under such a scenario, an overpayment by one buyer offsets equivalent underpayment by another.
Conner requests the Obama appraisal so that he may further support the strength of his appraisal review findings. To the extent that the residence is accurately appraised at approximately $1,775,000 -- derived by adding the aforementioned $125,000 to $1,650,000 paid by Obama for the mansion -- the appropriateness of Conner's appraisal review findings may be further evidenced as his case litigates.
In recent weeks, Conner has frequented the Obama website's "Answers" section seeking the house appraisal among hundreds of pages of Greenwood "House" and "Strip" document PDFs. Placement of the appraisal therein will satisfy Conner's request.
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