As President Obama prepares to travel to Chicago for a fundraiser for Democrat Alexi Giannoulias, the Illinois Senate candidate faces renewed questions about his family's bank.
New records show jailed developer Tony Rezko held an ownership stake in a development project that received a previously undisclosed loan from Giannoulias's Broadway Bank. In February 2006, the Chicago Sun-Times reported, the bank made a $22.75 million loan to Riverside District Development LLC, whose owners included Rezko.
The Giannoulias camp denied he knew about the loan. "Alexi left daily operations of the bank in September of 2005, months before this loan was made," a spokeswoman said.
Meanwhile, the president is set for an Aug. 5 fundraiser for Giannoulias in Chicago.
Giannoulias previously has been on the receiving end of fundraising help from Vice President Joe Biden and other top administration officials. Raising money has been a problem for the Democrat since Broadway Bank's collapse in April, his most recent Federal Election Commission filings show.