Chicago Mayor Richard M. Daley is on the defensive over a federal probe into how a firm owned by one of his nephews got millions of dollars in city pension fund investments.
Chicago Mayor Richard M. Daley is on the defensive over a federal probe into how a firm owned by one of his nephews got millions of dollars in city pension fund investments. Daley insists he didn’t know that $68 million was awarded to DV Urban Realty Partners, founded by nephew Robert Vanecko, until a newspaper reported it two years ago. He says when he found out, he urged his nephew to get out of the deal. Vanecko apparently ignored his advice until quitting this week — two weeks after the pension funds were subpoenaed by federal investigators. Daley read a statement to reporters Thursday saying he loves his nephew and finds it difficult to talk about his disappointment publicly. It was a rare airing of internal strife for a private family. ______ Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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