The arena deal the District cut with Abe Pollin is a great example of how the city got $722 million in the hole: The facility’s size, cost, and when (if) it will generate a profit are all unknown. But the deal with Dupont Down Under food court developer Geary Simon is even better. As the Washington Post has reported, Simon spent most of the last 15 years in jail. In 1980, he was convicted of larceny in a home-improvement scam. In 1985, he was convicted in Alexandria of defrauding about a dozen small retailers, particularly Asian immigrants. While in federal prison, he managed, by phone, to perpetrate two acts of fraud in the District, for which he pleaded guilty. Despite Simon’s convictions, and that his project was “guaranteed” by a $1- million letter of credit issued by United States First National FSHC (Simon is president) that was neither signed nor listed the company’s address and was littered with misspellings, D.C. officials had no qualms about the deal—even after the Post detailed Simon’s record and creative financing. Now, as Dr. Faust would tell you, if you’re going to make a pact with the devil, drive a hard bargain. But according to a recent Washington Business Journal article, Simon expects to net $15 million in the course of his 20-year lease, while his partner the District will collect less than $2 million.