The Carvajal Group Blog

IL Politician Pleads Guilty in Real Estate Scandal

November 4th, 2008

Edward Vrdolyak, age 70, a former alderman from Chicago, Illinois, recently pleaded guilty to being involved in a real estate scam with his friend Stuart Levine. Vrdolyak has admitted to fraudulently agreed to help a condo developer buy a school building for a finder’s fee of $1.1 million. His guilty plea to charges of mail fraud ends an eighteen month long indictment, a process that his attorney has described as stressful for Vrdolyak and his family.  He faces a oenalty of 3.5 years in prison if prosecutors have their way at his sentencing, which is scheduled for January 9.

Despite such slumps and scandals in the national real estate market, Austin real estate remains strong. To learn more about Austin homes available for purchase, contact the Carvajal Group at 512-419-7770. 

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