Washington Federal Bank Investigation
The Sun-Times coverage of the Washington Federal Bank for Savings in Bridgeport, and the federal investigation into “massive fraud” at the now-shuttered bank.
He was a longtime friend, customer and business partner of John F. Gembara, the Washington Federal Bank for Savings’ CEO authorities say oversaw a massive embezzlement scheme.
The former Chicago City Council member from Bridgeport offered a glimpse Wednesday of his life behind bars as he fought to keep from having his license to practice law suspended for three years.
John F. Gembara, the late boss of Washington Federal Bank for Savings, schemed with attorney Robert M. Kowalski, prosecutors told jurors Tuesday. Representing himself, Kowalski blamed Gembara.
Key figure accused of embezzling from failed Bridgeport bank lost $1 million at casinos, sources say
Authorities are trying to determine whether the money Marek Matczuk lost gambling came from the millions he never repaid Washington Federal Bank for Savings.
The disgraced Bridgeport pol — a member of the city’s best-known political family — was found guilty in February of two counts of lying to regulators and five counts of filing false income tax returns.
The sentencing capped a stunning, mad-dash of a federal court case that in 14 months cost Thompson his 11th Ward seat on the City Council, his law license and his freedom. It likely ended his political career and marred not only his reputation, but his famous family’s.
“Everything we have worked for our entire lives has been depleted — financially, reputationally and even what we thought were solid friendships,” Thompson’s wife, Katie, wrote to the judge.
Boguslaw Kasprowicz pleaded guilty to charges stemming from the failure of Washington Federal Bank for Savings — the investigation that also ensnared ex-Ald. Patrick Daley Thompson.
Exec of failed Bridgeport bank pleads guilty in fraud case that ensnared ex-Ald. Patrick Daley Thompson
Rosalie Corvite is cooperating with federal authorities in their continuing investigation of the failure of clout-heavy Washington Federal Bank for Savings.
The change of pleas come as the federal investigation into the $66 million embezzlement scheme continues.
Jane Iriondo is now the fourth person to plead guilty in connection with the $66 million embezzlement scheme at Washington Federal Bank for Savings. The bank was central to the trial of Patrick Daley Thompson.
Desperate for loans, Patrick Daley Thompson put hundreds of thousands in campaign cash in crooked Bridgeport bank
Documents subpoenaed by prosecutors and other public records reflect a growing desperation as he tried to quadruple the amount of money he was borrowing from Washington Federal Bank for Savings.
James Crotty admitted helping embezzle $66 million from from Washington Federal Bank for Savings by falsifying records and lying to regulators. He’s cooperating with prosecutors.
Jurors took about three-and-a-half hours to find Thompson guilty of two counts of lying to regulators and five counts of filing false federal income tax returns. State law requires Thompson to resign his seat on the City Council.
He should have known he shouldn’t be playing in certain sandboxes. Washington Federal Bank for Savings was such a sandbox, a playpen for scoundrels.
His guilty verdict for claiming deductions for interest he never paid to a failed Bridgeport bank, Washington Federal Bank for Savings, isn’t the only time he’s had trouble with the IRS.
A federal prosecutor told the jury that “no one is so big, no one is so important, that they can’t be held accountable for their criminal conduct.”
The case revolves around $219,000 Thompson got from the now-shuttered Washington Federal Bank for Savings. His attorneys filed a motion late Thursday hoping to convince the judge to acquit Thompson on two counts, but the judge declined.
The final call comes after three days of testimony. Prosecutors laid out their evidence that Thompson lied to regulators about the $219,000 he owed Washington Federal Bank for Savings, and that he knew he improperly claimed mortgage-interest deductions on his tax returns for the years 2013 through 2017.