ITeam

Feds target Chicago metal refining company

Thursday, August 22, 2013

A large, politically-connected company in Chicago is the target of federal investigation.

Federal agents and Chicago police had search warrants when they showed up at Bridgeport scrap metal recycler Acme Refining Wednesday afternoon and investigators stayed through the night according to witnesses, gathering evidence for a criminal investigation that is being run by the internal revenue service.

When the I-Team went to check out the story Thursday, company representatives attempted to block our view from the public street.

At Acme Refining Thursday afternoon, as one employee tried to shoo the I-Team off the public sidewalk, others lowered the blinds and a red mini-van drove back and forth trying to block the I-Team's view of their main scrap yard.

Wednesday when federal agents and Chicago police showed up here Acme didn't have a choice but to let them in. The authorities had search warrants according to a spokesman for the United States Attorney's office Thursday night, who would not disclose what the criminal investigation focused on.

Acme, in business for 40 years, recycles scrap and has grown into a major metal refining business in the Midwest. The company also accepts and recycles electronics and recently, Acme added document shredding and destruction to its services.

Company executives are currently before the city of Chicago Zoning Board with plans to build and operate a giant auto shredder on 15 acres along the Chicago River in the 25th Ward.

State election records show numerous political donations to the 25th Ward democratic organization, but it is not known whether political considerations have anything to do with the feds interest in Acme.

No one was arrested during the raid on Acme. A company employee Thursday referred us to an outside attorney for comment. The lawyer has not returned our call or answered an email from the I-Team.

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