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Chicago Police Pissed Off About Pension Shenannigans

By Kevin Robinson in News on Apr 30, 2009 4:20PM

Photo by swanksalot
Dozens of Chicago police officers angrily confronted members of the police pension board yesterday for failing to comply with city Inspector General David Hoffman’s subpoena as part of his investigation into investments that city worker pension funds have made with DV Urban Realty, the real estate investment firm operated by Mayor Daley’s nephew Robert Vanecko and Daley fundraiser Allison Davis. The police pension fund’s attorney has said that the fund will not turn over recordings of the closed-door sessions where the decision was made. The police board voted to invest $15 million in DV Urban in 2006, one of five city pension funds that pumped nearly $70 million worth of local government pension funds into the firm.

"This isn't the friends and family program of the mayor," said Trustee Mike Shields, who was elected to the board after the investments were made and is the only trustee to support complying with the subpoena. Pension fund director John Gallagher chalked up the officers’ anger to dislike of the mayor. "There is a segment of police that does not like Daley or anything that has to do with him," Gallagher told the Tribune.