DRW Illegal Trade Case Still Undecided // Eliot Singer

https://www.bloomberg.com/news/articles/2017-12-21/for-legendary-chicago-trader-slow-justice-in-manipulation-case

I hadn’t check for many months, but someone asked me a few days ago, so I finally got around to it.

DRW is tied to Core Campus/Convexity.

After City Center II/Park District and the brownfield project with the developer with a felony fraud conviction, East Lansing government and MEDC needed an absolute no crooks and deadbeats for tax incentives rule to restore even a modicum of credibility and ethical standards.

They didn’t.

DRW should have been excluded from tax incentives for the project that fell apart with the $10 million MBT credit fiasco (complete with the usual, don’t worry, ignore the elephant in the room, happy talk from city hall), because this case was unresolved.

They should be excluded from tax incentives for any project redo, until this case is resolved.

 

Eliot Singer

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