Fraudster’s Condo For Sale in South Loop

CRIME AND PUNISHMENT: The former head of WexTrust Capital pled guilty to a $255 million scheme—and his old condo is half-off

A recently sold South Loop condo

In 2010, after Steven Byers, the head of WexTrust Capital, pleaded guilty to running a $255 million fraud scheme, he and his wife, Lisa, lost their four-bedroom condo at 1250 South Michigan Avenue to foreclosure. MB Financial put the place on the market in February; it sold in April for $866,000—a little more than half of the $1.59 million the Byerses paid seven years ago for the new condo.






Photograph: Todd Urban



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