Batavia firm sued over $200,000 loan from Jack Roeser
A Batavia company is being sued to recover $200,000 loaned to it by the late businessman and political activist Jack Roeser.
First American Bank, the executor of Roeser's estate, filed the lawsuit against Larson-Becker Co. on Wednesday in Kane County Circuit Court.
The suit seeks $210,782 in principal and interest, plus an additional $38.35 for each day the matter is not resolved.
Roeser loaned the company the money in 2011, according to a promissory note attached to the suit. Larson-Becker had to repay it within five years. But the note also says the full amount was due on demand of the payer, Roeser.
Brett Larson, president of the company, declined to comment about the lawsuit, because he had not seen a copy of it as of Thursday afternoon.
Roeser died in June 2014. The bank demanded payment in October 2014.
Larson-Becker is at 111 N. River St. in downtown Batavia. The company sells items for the waterworks industry.
Roeser, who lived in Barrington, founded Otto Engineering. The Carpentersville company engineers and manufactures control grips, switches and accessories for two-way radio accessories.
Roeser ran in the 1994 Republican primary for governor. He founded Family Taxpayers Foundation and was a well-known contributor to politicians who held conservative views, including Gov. Bruce Rauner.
The Larson-Becker site, with some buildings estimated to be at least 90 years old, is on the east bank of the Fox River. Batavia city officials have identified it as prime site for redevelopment.