Via Ed Morrissey, here’s the latest on Obama supporter and now-indicted Chicago developer Tony Rezko:

Accused Illinois fixer Antoin “Tony” Rezko is in debt by $50 million and relies on “family” handouts of $7,500 a month to pay monthly costs, according to a previously sealed court transcript reviewed by ABC News Rezko’s bleak financial picture raises the question of how the Rezkos were able to buy a vacant lot adjoining the home of Sen. Barack Obama in 2005, at a time Rezko says he was already in deep debt.

Rezko also reveals in the testimony, before Judge Amy St. Eve on Jan. 16, 2007, that he already knew he was under federal investigation at the time of the land purchase and had hired a criminal defense attorney to deal with the “feds.”

Obama says he sought Rezko’s help because the house he wanted to buy in Chicago’s Hyde Park came with an adjoining lot the seller wanted to sell at the same time.

So at the time Rezko was well-aware that he had the feds on him, and he had no source of income. Yet he entered into a deal with Obama to buy the land, which Obama would by a tract of later. Ed writes:

In order to make that deal, he had to have his wife buy the property, even though her income and assets clearly didn’t qualify her for a $500,000 loan — let alone produce the $125,000 down payment. During this time, Obama maintains that he didn’t know anything about this situation, nor did he think anything amiss when he paid $104,000 to the Rezkos to buy a strip of land from their lot.

Mrs. Rezko’s assets, as Ed notes, were hardly enough to qualify for a half million dollar loan, and certainly not enough for a $125,000 down payment on the land. So how did they afford it?