CHICAGO (WBBM NEWSRADIO) - A former attorney has been sentenced to 25 years in federal prison for embezzlement and fraud in connection with the failure of Washington Federal Bank for Savings in Chicago’s Bridgeport neighborhood.
Robert Kowalski is among 16 people to face charges following the 2017 collapse of the bank with deep political ties.
It was shut down shortly after its president, John Gembara, was found dead under suspicious circumstances, seated in a chair with a rope around his neck.
The grandson of former mayor Richard J. Daley, former Alderman Patrick Daley Thompson, was sent to prison for lying about money he owed the bank and cheating on income taxes.
Kowalski was ordered to pay $7 million in restitution to the FDIC and $400,000 to the IRS.
The Chicago Sun Times reported when the 62-year-old was sentenced he shouted at Judge Virginia Kendall, “It’s too much for me. I’ll die before then.”
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