The very model of integrity:
At issue is a series of events that left [Republican Speaker of the House Dennis] Hastert $2 million richer and his district well on its way to securing a highway that has been the subject of a dispute between pro-growth and slow-growth forces for years. The controversy has been extensively reported by the Illinois news media.
In 2002, Hastert was driving to a parade in Sycamore, Ill., when he saw a post-and-beam house he fell in love with, according to Dallas C. Ingemunson, a longtime friend and ally of Hastert's who made the land deals for the speaker. Hastert struck a deal with the owner on the spot, purchasing the house near Plano, Ill., and 195 acres for $2.1 million.
In February 2004, Ingemunson, treasurer of Hastert's campaign committee and chairman of the Kendall County Republican Party, established Little Rock Trust #225. A week later, through the trust, Hastert and his business partners purchased a 69-acre parcel for $340,000, providing road access to part of Hastert's farm that had been landlocked. Hastert owned a quarter of that parcel.
In May 2005, Hastert transferred the 69 acres of previously hemmed-in land from his farm to the land trust. That summer, Hastert personally intervened during House and Senate negotiations over a huge transportation and infrastructure bill to secure two separate earmarks, $152 million to help build the Prairie Parkway through Kendall County and $55 million for an interchange 5 1/2 miles from his property. President Bush signed the bill into law on Aug. 10.
Then, on Dec. 7, Little Rock Trust #225 sold the Hastert parcels to a subsidiary of the Robert Arthur Land Co. for nearly $5 million. The deal netted Hastert a $2 million profit.
Recent Comments