CHICAGO — Alderman Patrick Daley Thompson was found guilty Monday in his federal tax fraud case.
A jury, which only deliberated for a few hours, found the 11th Ward alderman guilty on all seven counts — 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.
Throughout the trial, federal prosecutors painted Daley Thompson as a liar and tax cheat in a case that centered around more than $250,000 in loans. They said he knew exactly what he was doing.
Prosecutors believe Daley Thompson only made one payment over the years on those loans and improperly claimed years of tax deductions for interest he never paid.
Federal prosecutors also claim Daley Thompson lied about how much he owed to the bank, downplaying the amount by $109,000.
In response, Daley Thompson’s attorney told jurors his client simply forgot about that amount.
The defense went on to say the tax deductions, totaling more than $15,000 dollars over five years stemmed from a bank error that classified the loans as a mortgage and that Thompson simply never noticed.
Daley Thompson was charged in April last year with filing false federal income tax returns from 2013-2017. In addition, was charged with lying to the feds about how much he owed to Washington Federal Bank in Bridgeport.
Because he was convicted, the grandson of former Mayor Richard J. Daley and nephew of Richard M. Daley, will have to step down as alderman and Mayor Lightfoot will appoint a replacement.
“Alderman Patrick Thompson has been judged by a jury of his peers and found guilty. This week, we will be outlining an open and transparent process to fill the vacancy with a qualified public servant that represents the values of the residents of the 11th Ward,” Mayor Lightfoot said in a statement.
Daley Thompson is facing up to 30 years in prison. His sentencing hearing is scheduled for July 6.