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I think this typifies the conduct of Tariq Siddiqi. I have been investigating Siddiqi for the past few years and slowly and slowly are obtaining the facts and unraveling the fraud. Unlike Salman Ibrahim and Sunrise Equities disaster, the Feds go after the big boys but the smaller guys who scam money go under the radar. As I have a personal interest in finding all the facts to present to the proper authorities (hoping they wont go ignored) it has become very clear the Tariq Siddiqui or Siddiqi and Salman Ibrahim and Sunrise Equities were working together. In light of the recent Broadway Bank shut down, it has been even more clear that there are many people involved, including our Illinois government officials who seem to be involved in some corruption. It is a pretty well known fact that Tariq Siddiqi and Treasurer Alexi Giannoulias have known each other for quite some time. And the expansion of Tariq Siddiqi’s scam was because Alexi funded his projects when most banks would have turned it down. It is sad to see that Alexi blames Broadway Banks downfall on the economy when the Broadway Bank and Alexi’s own careless and greed caused it which may or may not be fraudulent. Siddiqi had many accomplices, he had sham-buyers, attorneys, realtors, appraisers, architects, bankers and many more that he either forced to work with him or got paid well. I know several people who gave about $50-100,000 to Siddiqi for a Sunrise type scheme and then threatened them if they ever took any legal action. I know one person that was investigating Siddiqi that just happened to be beaten up in his own home. Too many coincidences, i think not. Here are some examples that I have found.
- There are buyers for Siddiqi’s condo projects where the same buyers buy condo units in multiple properties, if not multiple units in the same development and go into foreclosure immediately.
- Siddiqi takes the proceeds and hides them in different accounts accounting at a expense for his Homes 4 You, Inc. company stating that it is a payment towards work and investors are told that the development failed while Siddiqi pockets a large sum of money from each deal, approximately $50-100k.
- Siddiqi’s Attorney, Charles Levy and many others get Attorney Fees of $100,000 or more from each closing. That is pretty outrageous fees for a closing.
- Most condos that are sold are not even finished and looks like someone just walked around with a hammer and nails to show that somehing happened.
- Siddiqi strips the equity of a new property that he has gotten to payoff older properties to continue his scam and stay good with banks.
- There are letters with Siddiqi, Broadway bank, sunrise equities and salman ibrahim as recent as 1-2 months before Salman Ibrahim disappeared trying to broker some deal.

Needless, to say, the list goes on and on. Court records show that almost all of Siddiqi’s properties are in foreclosure and all the honest investors are screwed. Then he gets these unscrupulous lawyers, like Charles Levy, Robert Habib, Rakesh Khanna of Weissberg and Associates who are all part of the scam and keeping Siddiqi alive by hiding funds for them in Client Trust Accounts.

Some have sad that Siddiqi’s actions are like the Mafia....He thinks he is above it all and is untouchable.