Was giving “FBI informant” John Thomas TIF money legal?

Ernie Souchak, Editor-in-Chief

We all know that giving convicted felon and "FBI informant" John Thomas tax increment financing (TIF) funds was a colossally stupid thing to do.

But the real question is: was it legal?

John Thomas, who is best known for wearing a wire for the feds in the cases against Tony Rezko and Ald. Ike Carothers, is in federal custody for stealing 370K of TIF money from the village of Riverdale IL.

Chicago Sun-Times
Feds arrest former mole in Rezko, Carothers cases
BY NATASHA KORECKI AND KIM JANSSEN Staff Reporters April 18, 20

Smooth-talking felon John Thomas once said the thing he loved about Chicago was, it was “the most forgiving” place for a convicted crook.

He’d better hope so.

The 51-year-old real estate developer — who got a second chance at life and dodged a prison term by wearing a wire against disgraced political fundraiser Tony Rezko as well as former Ald. Ike Carothers — has been up to his old tricks, federal prosecutors say.

Arrested at dawn on Good Friday at his downtown condo, Thomas stole $370,000 from the south suburban village of Riverdale that was meant for the development of Riverdale Marina, a federal indictment alleges.

Continue reading .... Feds arrest former mole in Rezko, Carothers cases

OK. It's no real surprise that a habitual criminal like Thomas would steal a pile of money put right in front of him.

But who in their right mind would put a pile of taxpayer money in front of a convicted felon knowing full well that he would steal it?

That kind of stupidity can't be legal!

After initially pleading not guilty to all charges against him, Thomas has abruptly changed his mind and will plead guilty on May 16.

So what's up? Did Thomas make another deal with the feds? Are there more arrests to follow in the Riverdale Marina scam?

But when feds were asked these questions, they refused to comment.

The U.S. Attorney's office also refuses to explain why it allowed John Thomas' three-year probation from his previous felony conviction to be terminated after only one year.

Is it just a coincidence that Thomas had his probation terminated two years early, which allowed him the opportunity to steal taxpayer money in the Riverdale Marina deal?

Why would the feds allow this?

One thing is for sure. If Thomas' sentence of probation was not prematurely terminated in 2011, his problems today would be exponentially greater.

To start, he would be facing much longer prison time.

Clearly there is more going on here than meets the eye....