Chicago city councilor linked to Daleys indicted for tax evasion

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Chicago Ald. Patrick Daley Thompson, linked to the two Daleys mayors, faces federal charges that he filed false income tax returns and lied about $ 219,000 in payments from a neighborhood bank. More than 30 Chicago aldermen have been convicted or charged with corruption.

The grandson of former Chicago Mayor Richard J. Daley and nephew of former Mayor Richard M. Daley was billed on April 29 for lying to federal bank regulators and for filing false income tax returns related to the $ 219,000 he received from a bank in his family’s neighborhood.

The indictment of seven counts against Chicago Ald. Patrick Daley Thompson, 11th arrondissement, stems from the disappearance of a bank in the family neighborhood of Bridgeport. Thompson, 51, owns his old grandfather house in the neighborhood and bears a strong resemblance to his grandfather.

The charges indicate that the money came from loans and other payments between 2011 and 2014 from the Washington Federal Bank for Savings, which was deemed insolvent and closed in 2017. There was a loan of $ 110,000, on which Thompson made one payment, then stopped, then two more payments that were never placed in the books of the bank or recorded as loans, charges state.

The five tax charges indicate that Thompson falsely claimed deductions for the interest he claimed to pay on bank loans. Two counts claim he lied to the FDIC in 2018 about loan repayments.

The bank had $ 66 million in bad debts when it went bankrupt.

His lawyer could not be reached by the Chicago Tribune. An indictment date had not been set.

Also on April 29, a federal grand jury indicted former Chicago Ald. Ricardo Munoz with fraud for using campaign funds for personal expenses. According to the charges, he spent funds on jewelry, clothing, cell phones, vacations, sports tickets, plane tickets and a relative’s school fees.

Chicago Ald. Ed Burke faces a 14-count bribery charge related to the property tax management by calling clients to his law firm in exchange for his interference in city affairs. Burke is a cigar-nibbler city councilor with a taste for pinstripe suits who served on city council for more than 50 years but lost power over the city’s finances following the election of Mayor Lori Lightfoot .

The Burke investigation revealed Ald. Danny solis has a postponement agreement with the US prosecutor and is cooperating with federal investigators.

More than 30 Chicago aldermen have been linked to corruption cases since the 1970s.

Chicago has been classified as the nation most corrupt city and Illinois is the second most corrupt State. This corruption comes at a cost: $ 550 million per year in lost economic opportunities.

State lawmakers have the opportunity to fight Illinois’ culture of corruption, at least at the Statehouse, by passing a group of ethical reforms. These include empowering the watchdog charged with holding lawmakers accountable for wrongdoing, improving transparency by improving financial disclosures by lawmakers, banning members of the General Assembly from working as lobbyists with executive agencies and local governments, and by requiring a cooling-off period before lawmakers can become lobbyists in the General Assembly after leaving office.



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