Chicago City Wire

The man credited with spurring the probe that led to the federal indictment of longtime Chicago alderman Ed Burke now faces fraud charges stemming from his involvement in a South Side condominium project.

See Y. Yong, who wore a wire during conversations with former Ald. Daniel Solis, was formally charged earlier this month with lying to banks and a buyer and is expected to plead guilty when he appears before the court.

A Chinatown developer, the Chicago Tribune reports Wong has been cooperating with authorities since early 2014 in hopes of receiving a lighter sentence after being ensnared in the then-ongoing probe.

Charges against Wong revolve around a nearly $14 million loan he took out to fund construction of the 60-unit Canal Crossing condo building on South Canal Street. Formal charges accuse him of promising to sell units at sizeable discount rates if money was paid upfront without waiting for a building to be completed. Those actions were allegedly taken without the consent of the bank and used some of the buyers’ funds to pay personal loans and other costs instead of depositing it into an escrow account as legally required.

Wong’s cooperation ultimately led Solis to agree to wear a wire over a two-year period, where he reportedly captured conversations he had with Burke, who has since been slapped with a multi-count indictment that accuses him of shaking down business owners looking to do business with the city.   

In one instance, a 2014 conversation between Wong and Solis also captured House Speaker Mike Madigan and representatives from his Madigan & Getzendanner law firm, which specializes in real estate tax appeals.

Madigan has denied any wrongdoing and has not been charged.