Subpoenas Doled Out For $68 Million City Pension Fund

Mayor Daley's nephew, political ally at center of investigation, according to Sun-Times

Saturday, May 30, 2009  |  Updated 7:30 AM CDT
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Subpoenas Doled Out For $68 Million City Pension Fund

Mayor Daley's nephew, Robert Vanecko, is at the center of a federal grand jury investigation into money his company got for city employee investments.

The question for a federal grand jury centers on how Mayor Daley's nephew, Robert Vanecko, was able to get $68 million of city of Chicago employee investments for his start-up company.

And subpoenas have been issued to city pension officials to find some answers.

The move comes after the same officials ignored a similar subpoena from Chicago's inspector general, David Hoffman

Hoffman told the Chicago Sun-Times he's teamed up with federal investigators to look into the investments made with DV Urban Realty Partners, a minority certified business that is co-owned by Vanecko and another Daley all, Allison S. Davis.

The subpoenas request records on pension plans for police officers, laborers and municipal employees. They also ask for firefighter records even though their pension fund refused to invest money with Vanecko and Davis, according to the Sun-Times.

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