Emanuel Gives CFO Lois Scott The Dreaded Vote Of Confidence
By Chuck Sudo in News on Sep 10, 2013 9:30PM
Mayor Rahm Emanuel said Tuesday Chief Financial Officer Lois Scott still has his support despite the setback with privatizing Midway Airport and reports she had business dealings with indicted former city comptroller Amer Ahmad dating back to Ahmad’s days as deputy treasurer for the state of Ohio.
Ahmad was indicted last month on eight counts of bribery, wire fraud, conspiracy to launder money and making false statements to officials and accused of taking part in a $500,000 kickback scheme involving Ohio investment business. The indictment came two weeks after Ahmad resigned as comptroller to, according to a statement from the Emanuel administration, return to the private sector.
Tribune curmudgeon John Kass took time away from poking a stick at bicyclists to write a column detailing how Scott recommended Ahmad for the comptroller position. The Sun-Times and Tribune followed with stories that revealed former federal prosecutors Vincent Connelly and Zaldwaynaka "Z" Scott vetted Ahmad for the position . Last week Tribune reporter Bill Ruthhart wrote a story that showed Ahmad awarded Scott Balice Strategies, the financial services firm Scott co-founded and sold upon being named Chicago CFO, $165,000 in bond business when Ahmad was deputy Ohio Treasurer. The business was reciprocated when Scott and Ahmad joined the Emanuel administration. A firm owned by Ahmad’s former boss in Ohio received bond business from the city after Scott recommended Ahmad for comptroller.
All of this working on bond deals as a private businesswoman has critics asking whether she should recuse herself from city bond deals. Emanuel said there’s nothing to worry about.
"Lois Scott is a very good public servant and is doing a great job. And she has had a tremendous career in the private sector and gave that up to join the city, to serve the public. And she continues to do that with my full confidence."
The Sun-Times profiled Scott as an “outsider” in 2011. http://mayoraltutorial.com/directory/category/financial
“the consummate insider going through the revolving door of government service to corporate wealth” and “a walking conflict of interest at the very best and at worst a gateway to some horrid public policy.” During her time at Scott Balice, Scott was involved in privatization efforts including an attempt by former Gov. Rod Blagojevich to lease the Illinois Lottery.
Emanuel’s benevolence didn’t extend to deputy comptroller James Raussen, who followed Ahmad to Chicago in July 2011. Emanuel said he’ll await the results of an independent report to “make sure that what happened in Ohio stayed in Ohio and nothing like that happened in Chicago.”
“They’re going to be comprehensive and thorough and I await their report. . . . When I get the report, I can comment on anything if there’s anything related to anything.”