Highland Park man pleads not guilty in failed business deal

A Highland Park man pleaded not guilty Wednesday to charges he tried to pay back an investor in a failed business deal with a bad check.

Michael Kimmelman, 50, is charged with theft and deceptive practices in Lake County Circuit Court.

Assistant State’s Attorney George Pappas said Kimmelman, of the 500 block of Bennett Avenue, was a real estate broker who offered to negotiate the sale of a business to a 44-year-old Palatine man.

The Palatine man gave Kimmelman $30,000 in earnest money for the sale on March 6, 2010, Pappas said, and another $10,000 last Nov. 3.

The deal for the business fell through late last year, Pappas said, and the Palatine man contacted Kimmelman several times in an effort to get his money back.

Pappas said Kimmelman gave the man a check for $40,000 on March 22 of this year during a meeting at a Buffalo Grove restaurant, but the check was not paid because of insufficient funds in the account.

Associate Judge Theodore Potkonjak told Kimmelman he faces up to five years in prison if convicted of theft and up to three years on the deceptive practices charge.

Both crimes are also punishable by probationary terms and local jail time.

Potkonjak scheduled a trial of the case for July 11 and ordered Kimmelman, who is free because he posted $2,500 for bond, to appear in court June 21.