CHICAGO – Alderman Patrick Daley Thompson has been indicted on federal bank fraud charges.
Prosecutors allege Daley Thompson (11th Ward), who is the grandson of former Mayor Richard J. Daley and the nephew of former Mayor Richard M. Daley, filed false tax returns and lied to investigators regarding over $200,000 worth of loans he’d received from the now-defunct Washington Federal Bank for Savings in Bridgeport.
Thompson, 51, allegedly made one payment on a $110,000 loan and never paid the rest back, according to the indictment. He has served as an alderman since 2015.
The indictment also states that Daley Thompson received $120,000 in other loans, which were off the books. He is charged with five counts of willfully filing a false income tax return and two counts of knowingly making a false statement to the Federal Deposit Insurance Corp.
Each false statement count is punishable by a maximum sentence of 30 years in federal prison, while each tax count is punishable by up to three years.
A statement from Daley Thompson, following news of the indictment, read: