Tuesday, August 16, 2005

Cellini Firm Garners Lucrative Contract

"-- A firm linked to Republican powerbroker William F. Cellini has been tapped to invest up to $120 million in state pension funds even though one of his companies owes taxpayers millions of dollars on a loan for an unprofitable hotel.

The Illinois State Board of Investment chose Commonwealth Realty Advisors Inc. of Chicago to invest retirement funds on behalf of state workers, university employees, judges and ex-lawmakers in a deal that will net the company up to $2.4 million in annual management fees."

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