Facing Several Lawsuits & Questions On Immigration Status, Chicago Condo Developer Takes A Hike

In Illinois, the Chicago Sun-Times reports:

• Andrius Augunas used to lead the high life of a Chicago condominium builder. He drove a Bentley, draped expensive clothes over his athletic frame and bought a $4.2 million house in Winnetka. He talked boldly of remaking the Near South Side, with each plan more ambitious than the last. But his former business partners wonder if they'll ever see him again. Augunas, president of Rokas International Inc., owes them money. They say he has essentially abandoned two Near South Side projects, both embroiled in lawsuits and one of which is under construction. Plaintiffs in those cases said Augunas has returned to his native Lithuania. Opinion is divided as to whether he's fleeing his business failures or had a legitimate immigration issue.

***

• Augunas [...] planned a 205-unit complex at 2100 S. Indiana, a mix of lofts and a high-rise. But his lender in that deal, First DuPage Bank, has sued to foreclose on the site, accusing Augunas and his companies of owing more than $12.5 million.

For more, see Builder can't be found (Facing lawsuits on Near S. Side, he may have returned to Lithuania).

See also, Crain's Chicago Business: Foreclosure suit filed on Augunas condo project.

Go here for other posts on Andrius Augunas.

FBI Investigates Chicago Builder Who Left Country; Possible Sham Sales Probed

In Chicago, Illinois, the Chicago Sun Times reports:

• A brash Chicago builder who returned home to Lithuania as unpaid debts accumulated here has drawn the interest of the FBI, two sources said. The sources said FBI agents are asking about the activities of Andrius Augunas, whose plans for remaking parts of the Near South Side ended in a tangle of liens and foreclosures.

• Augunas was the president of Rokas International Inc., which has ceased operations. The investigation apparently is connected to FBI probes into mortgage fraud and is looking at the possibility of "sham" sales of condominiums in Rokas projects.

• Plaintiffs in cases against him say the developer left for Lithuania earlier this year and has not been seen since. On April 29, he filed for personal bankruptcy protection under Chapter 7 of the code.

Among the creditors Augunas has reportedly stiffed include First DuPage Bank, which gave him three loans totaling $27.8 million for a condo building he never started.

For more, see FBI probing bankrupt developer ($79 MILLION IN DEBT - He fled U.S. after plan to remake Near South Side collapsed).

Go here for other posts on Andrius Augunas.