Rezko informant to plead guilty in fraud case

A real-estate developer who once served as a government informant in a corruption case plans to plead guilty to bilking a Chicago suburb out of $370,000.

A decade ago, John Thomas agreed to wear a wire in the case against political fundraiser Tony Rezko.

Last month, Thomas was arrested and charged with wire fraud. Prosecutors say he used tax increment financing payments from the village of Riverdale to pay personal loans, legal fees, rent and other personal expenses. The money was meant to be used by Thomas' company for a redevelopment project at the now-closed Riverdale Marina.

The Chicago Sun-Times reports that Thomas indicated during a hearing Thursday that he would change his plea to guilty on May 16.

He could face more than three years in prison.