East Chicago to receive casino funds
An East Chicago development company has been receiving large revenues from a local casino, instead of sending them to this Indiana city for additional redevelopment projects and other investments as they had originally agreed. The Attorney General of the state of Indiana, and the entire City of East Chicago, claim that Second Century Inc. has pocketed over $16 Million since the opening of the casino in 1997.
The mayor of East Chicago, George Pabey, announced in a press conference a proposed settlement with Second Century Inc. J. Lee McNeely, the attorney for Second Century Inc. confirmed that the deal is pending, but it requires approval from the East Chicago City Council in order to be completely finalized. According to the terms of the settlement, Second Century Inc. will pay future revenues to the city, although McNeely refused to say whether past revenues Second City collected would be returned to the city. The Attorney General's office has made it extraordinarily clear that even though the city of East Chicago is settling, the state of Indiana is keeping their portion of the lawsuit open and intends to continue to seek an accounting for the money they consider to have been stolen from the city redevelopment fund.
The lawsuit was originally filed in 2005, after almost a decade of attempting to get the funds from Second Century Inc. Now, half a decade later, the City of East Chicago is settling out of court rather than going through the additional time and expense of maintaining the lawsuit, and Second Century Inc seems to be fairly amenable to the resolution. Although the precise terms of the settlement are still unknown, it seems clear that the settlement will be fairly effective in resolving the years long dispute between East Chicago and Second Century Inc.
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