Major Giannoulias Donor Arrested

The hits just keep on coming for Alexi Giannoulias. As if Tony Rezko and Rod Blagojevich were not enough, yesterday one of Giannoulias' major donors was arrested and accused of defrauding two banks of almost $2 million.

The hits just keep on coming for Alexi Giannoulias. As if Tony Rezko, Broadway Bank, and Rod Blagojevich were not enough, one of Giannoulias' major donors was arrested yesterday. The Chicago Sun-Times reports that the owner of the popular Boston Blackie's restaurant chain, Nick Giannis, was arrested and accused of defrauding Charter One and Washington Mutual banks of almost $2 million. Cook County State's Attorney Anita Alvarez described the scheme as “sophisticated” and “complex.”

According to the Sun-Times, Nick Giannis has donated $120,000 to Giannoulias' campaigns. Giannoulias tried to parry the issue by releasing a statement announcing that “In light of today's news reports on Mr. Giannis, Alexi For Illinois and the dormant state campaign, Citizens For Giannoulias, will immediately donate any and all contributions received from these individuals to a number of local nonprofit organizations.” Giving the money to charity is a nice sentiment, but it won't matter. The gig is up. It took Mark Kirk about ten seconds to pounce on the latest break for his campaign, stating yesterday that "The check-kiting scheme conducted by a top Giannoulias contributor and Broadway Bank client appears to be part of a disturbing pattern of reckless business relationships, questionable banking practices and potentially illegal activity. ... Between his questionable relationships and business practices, Alexi's ethical lapses are beyond distracting for someone running to be a U.S. Senator.”

Polling numbers don't show it yet, but this race is spinning out of control for Giannoulias and his campaign. Kirk's attacks on Giannoulias' ethics issues will become more frequent, more pointed, and most devastating for Giannoulias, more credible in the eyes of the public after this last lapse.

Giannoulias is in serious, serious trouble. Mark Kirk is going to win this race.