The Obama-Rezko connection

Sen. Barack Obama’s friend Tony Rezko is on trial for corruption in Chicago. Most of Rezko’s ties are with Illinois Gov. Rod Blagojevich. But, Rezko has some ties to Obama.

Obama has known Rezko since he was in law school. Obama turned down a job offer from Rezko upon his graduation, but Obama billed him for five hours of work when he was a community organizer. Rezko made all his money in real estate and from Papa John’s and Panda Express fast food restaurants. Read more about the case and Rezko’s big ties to Gov. Blagojevich here.

Obama wanted to buy a mansion on Chicago’s South Side with money from his second book. He found a house to buy, but the owner of that house also owned the adjacent property next door and was only going to sell both of them. Obama bought the house and Tony Rezko’s wife bought the land next door. Obama paid $1,650,000 for the house while (which was valued at $1,950,000) Mrs. Rezko bought the land for $625,000. Obama later paid the Rezko’s $104,500 for a strip of the land in 2005, after Rezko was already being investigated.

There isn’t much to go on here and it certainly won’t stick to Obama.