John Thomas arrested and charged early Friday morning

John Thomas was in a good mood after receiving house arrest during his arraignment on wire fraud charges in federal court.

Promising he would say more about the accusations he stole $370, 000 dollars of taxpayer money, the 51-year old former government mole left the courthouse.

Outside, Thomas remained in good spirits, saying he helped the government in the past to avoid arrest. He also denied the accusations.

In court, prosecutors pushed for the Chicago real estate developer to remain behind bars. In 2012, Thomas was paid $900, 000 dollars of money from south suburban Riverdale to develop the Riverdale Marina.

Prosecutors say he used $370, 000 dollars of that cash to pay off personal loans, legal fees, rent and other personal expenses. Thomas is also accused of submitting fake invoices to Riverdale to cover up where the money was really going. His attorney would only say this.

In response to prosecutor concerns that Thomas could commit financial crimes while on house arrest, the judge sent court officers to Thomas’ river west home to ensure his access to internet and phones could be blocked.

Thomas was also barred from doing any financial transactions. Checks for as much as $300, 000 dollars Thomas claimed he has coming, will now be handled by his attorney.

Thomas has a history of fraud and also working as a federal “cooperating source.” His lawyer claims at a previous sentencing hearing, prosecutors called Thomas the “best cooperating source they ever had”.

Thomas worked as a mole in an FBI investigation into political corruption and real estate crimes that involved Tony Rezko, a former associate of Rod Blagojevich.

Thomas’ cooperation also lead to the conviction of former alderman Isaac Carothers, who accepted $11,000 dollars worth of renovations to his home in exchange for help on a zoning matter.

Thomas was convicted himself of federal fraud and money laundering charges in New York a decade ago.

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