Michael A. Pannos

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Michael Pannos, attorney Merrillville, Indiana, was state Democratic Party chairman from 1988 to March 1993. Delegate to Democratic National Convention from Indiana, 1996, 2000. He was once regarded as an East Chicago and Lake County political power broker. Pannos and business partner Thomas Cappas created Second Century Inc. a East Chicago development firm about 1997 and was dissolved in late 2010 or early 2011.

Pannos' Culver lake home up for sheriff's sale
Tuesday, September 28, 2010
..The luxury lake home of an embattled Lake County political insider is scheduled for public auction today in Marshall County following mortgage foreclosure.

Marshall County officials and court documents confirmed that, as of Monday afternoon, the Culver, Ind., house owned by Michael Pannos, worth as much as $2.3 million, was scheduled today for the county sheriff's sale.

Marshall County court records show Pannos and his wife, Margaret, owe $1.7 million to lender BNY Mellon and another $708,912.45 to Salin Bank & Trust Co. for their home at 124 S. Shore Drive on the banks of Lake Maxinkuckee. Pannos also owns a home in Merrillville.

Pannos and business partner Thomas Cappas created Second Century 13 years ago as a side agreement -- with the administration of former East Chicago Mayor Robert Pastrick -- to the deal that brought one of Northwest Indiana's riverboat casinos to East Chicago's lakefront....