Rahm Emanuel

Chicago Mayor Rahm Emanuel (D) is under scrutiny for accepting what potentially could be considered illegal campaign cash from financial firms that manage the city’s pension funds.

On Tuesday, three city councilmen (one of whom is challenging Emanuel for re-election next February) called for the Securities and Exchange Commission to investigate Emanuel’s campaign dollars. Their letter follows an International Business Times report published Nov. 13 that stated investment firms executives with direct ties to Chicago’s pension funds have “since 2011 poured more than $600,000 in contributions into Mayor Rahm Emanuel’s campaign operation and political action committees.”

Current 2nd Ward Alderman and mayoral challenger Bob Fioretti, along with Ald. Scott Waguespack (32nd Ward) and Ald. John Arena (45th Ward), also sent similar letters to the Chicago inspector general and the city comptroller’s office calling for an investigation.

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