Illinois Teachers’ Fund Player in Federal Case

The federal trial in Chicago of a politically connected businessman named Antoin “Tony” Rezko has attracted attention nationally because of Mr. Rezko’s association with U.S. Sen. Barack Obama.

What has been obscured, though, except for those paying close attention in Illinois, is the central role in the case of the state Teachers’ Retirement System and, specifically, its board of trustees.

Federal prosecutors allege that Mr. Rezko, who has extensive interests in pizza franchises and real estate, conspired with a member of the retirement-system board to steer investment contracts to financial firms in exchange for contributions to Illinois Gov. Rod R. Blagojevich, a Democrat, who is not...