When Mercy-Crystal Lake Hospital bought the southeast corner of Three Oaks Road and Route 31 in (near?) Crystal Lake for $2,967,594 on December 11, 2003, from whom did it buy the property?
I use the word "whom" intentionally, because it bought the property from a trust at Home State Bank. Trusts don't show up by surprise. They are created by people who don't want the world to know they are the owner. And there are other reasons for trust ownership, but often the primary reason is privacy and confidentiality.
Now comes along an idea. ALAW has a great idea. Get elected and appointed officials to disclose any conflicts of interest. What? In Illinois? Are you kidding?
Many candidates in the approaching February 2nd Primary Election have filed disclosure statements, which can be viewed at
https://sites.google.com/site/landagricultureandwater/
Some candidates for office have not. Two long-time elected officials who are candidates for re-election have not filed the ALAW Disclosure document. It would be interesting to know their reasons for not filing. I guess these could range from 1. I'm not required to file to 2. I don't think it's any of your business to 3. "Trust me. I am not a crook."
I was asked the question today whether beneficial ownership in a trust would have to be disclosed, should there be a conflict of interest by a Grantor or beneficiary of a trust in a deal that would attract public scrutiny. Question 1a on the disclosure addresses this. Is there some skidding room there?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment