Chicago Attorney Charged With Misrepresentation And Tax Offenses In Connection With Funds Received From Bankrupt Chicago Bank | USAO-NDIL
CHICAGO – A Chicago attorney was charged today with a misrepresentation and tax charges relating to funds he received from the Washington Federal Bank for Savings.
PATRICK D. THOMPSON, 51, is charged with five counts of willfully filing a false income statement and two counts of false reporting to the Federal Deposit Insurance Corp., indictment says returned to the US District of Chicago. The indictment has not yet been scheduled.
The indictment was announced by John R. Lausch, Jr., United States attorney for the Northern District of Illinois; Jay N. Lerner, Inspector General of the FDIC Inspector General’s Office; Tamera Cantu, Acting Special Agent for IRS Criminal Investigations in Chicago; Emmerson Buie, Jr., special agent in charge of the FBI Chicago field office; Catherine Huber, Special Agent for the Central Region of the Federal Housing Finance Agency, Office of the Inspector General; Sally Luttrell, Deputy Inspector for Investigations, Department of the Treasury, Office of the Inspector General; Joseph M. Ferguson, Inspector General of the City of Chicago; and Kathryn B. Richards, Inspector General of the Chicago Housing Authority. The government is represented by US assistant lawyers Brian Netols, Michelle Petersen, Jeremy Daniel and Nicholas Eichenseer.
According to the charges, Thompson received $ 219,000 from the Chicago-based Washington Federal from 2011 to 2014 through an alleged loan and other unsecured payments. He made a repayment on the loan, but then stopped making payments and did not pay interest on the funds he received, the indictment says. Washington Federal was closed in 2017 after the Office of the Comptroller of the Currency determined it was insolvent and had at least $ 66 million in nonperforming loans. When the FDIC, as the successor in the interest of the Washington Federal, attempted to secure the reimbursement from Thompson in 2018, he falsely stated that he owed only $ 110,000 and that those funds were for home improvement. , when Thompson knew he had indeed received $ 219,000 and that $ 110,000 of it was paid by the bank to a law firm as Thompson’s capital contribution, the indictment says.
Tax Charges Accuse Thompson of Falsely Representing Five Years of Income Tax He Paid Interest on Money He Received from Washington Federal Even though He knew he was not paying interest on the amounts declared in the declarations.
Ten other defendants, including several former high-ranking bank employees, had already been indicted in the ongoing federal criminal investigation into the failure of the Washington Federal.
The public is reminded that an indictment is not proof of guilt. The defendant is presumed innocent and has the right to a fair trial during which the government bears the burden of proving his guilt beyond a reasonable doubt. Each misrepresentation count carries a maximum penalty of 30 years in federal prison, while each tax count carries a maximum penalty of three years. If convicted, the court must impose a reasonable sentence under federal law and US sentencing recommendations.