The opinion of the court was delivered by: Magistrate Judge Morton Denlow
MEMORANDUM OPINION AND ORDER
This case comes before the Court on a motion in limine filed by Chicago Police Officers Aaron Cunningham, Angel Cahue, Fred T. Konet, Edward Flynn, James McKittrick and Luis Ramirez (collectively "Officer Defendants"). The motion seeks to exclude evidence regarding the following four categories of economic damages from the upcoming trial: 1) lost mortgage finance business; 2) lost hotel deals; 3) lost CTA security deal; and 4) repossessed vehicles*fn1 . This Court held oral arguments on November 29, 2007. For the reasons stated below, the Court grants the Officer Defendants' motion in limine as to all four categories of economic damages.
A. Events Leading to Plaintiff's Arrest
Chicago Police arrested Ibriham Kiswani ("Plaintiff") on July 31, 2004, for aggravated use of a weapon. On August 20, 2004, a state court judge found probable cause for the arrest. Plaintiff was acquitted of the charge on March 10, 2005 following a criminal trial. He thereafter instituted this action. None of the Officer Defendants knew Plaintiff prior to his arrest, and none had any knowledge of the specific business activities which form the basis of the four categories of damages.
Plaintiff filed a second amended complaint alleging counts of §1983 civil conspiracy, malicious prosecution, false arrest, §1983 due process violations and deprivation of property/theft against the Officer Defendants, former business associate Marcelino Renteria ("Renteria"), and Phoenix Security Agency, Inc. ("Phoenix"), and a claim under 745 ILCS 10/9-102*fn2 against the City of Chicago.
Beginning on April 5, 2002, and at all times relevant to this motion, Plaintiff was the President of 501 Kedzie Corporation, which owned and operated Faran Nightclub, located at 2501 South Kedzie, Chicago, Illinois. Plaintiff was also the President and an employee of National Security Agency ("NSA"), an Illinois corporation whose primary business is providing security services to commercial, residential, and industrial clients.
On the night of the arrest, July 31, 2004, Plaintiff was scheduled to work as an armed security guard for Hilliard Towers, located at 2030 South State Street, Chicago, Illinois, starting at 10:00 p.m. At approximately 9:00 p.m., Plaintiff was armed and seated at the doorstep outside Faran Nightclub. Chicago Police Officers subsequently approached Plaintiff and arrested him for aggravated use of a weapon. On August 20, 2004, a probable cause hearing was held at which time a finding of probable cause for the arrest and detention of Plaintiff was made. Plaintiff was acquitted of criminal charges on March 10, 2005 following a trial.
B. Four Categories of Economic Damages Sought to be Barred
Plaintiff claims four categories of economic damages resulting from his arrest and prosecution which the Officer Defendants seek to bar in their motion in limine.
1. Lost Mortgage Finance Business
Plaintiff planned to start a mortgage banking business ("Illinois Mortgage Exchange") with investor Mike Raymond. The company expected profits of over $300,000. Illinois Mortgage Exchange was incorporated in May 2004, but never obtained a license or conducted any business and is now dissolved. (Kiswani Dep. 106-7; 157-8).
Through Illinois Mortgage Exchange, Plaintiff planned to enter into two hotel deals valued at $105,000,000. Plaintiff claims that his uncle, Said Halawa, intended to financially back the first deal, and that investor John Burgelman agreed to financially back a second hotel deal after the first was completed. (Kiswani Dep. 170-3). Because of Plaintiff's arrest, however, Said Halawa allegedly withdrew funding for the first hotel deal. Consequently, the second hotel deal failed as well.
3. Lost CTA Security Deal
Prior to the arrest, Plaintiff's company, NSA, had one client, Holston Management, and two existing contracts with Holston. (Kiswani Dep. 95). Plaintiff expected to obtain additional contracts to provide security services, most notably, one with the Chicago Transit Authority ("CTA") valued at ...