U.S. Attorney Morris Pasqual | U.S. Department of Justice
A real estate developer from Park Ridge, Illinois, Marek Matczuk, has been sentenced to nearly 13 years in prison for his role in a conspiracy that embezzled millions from the now-defunct Washington Federal Bank for Savings in Chicago. The bank, located in the Bridgeport neighborhood, was closed by regulators in 2017 due to insolvency and at least $66 million in nonperforming loans.
Matczuk was convicted last year by a federal jury of conspiring to commit embezzlement and falsify bank records, as well as aiding and abetting embezzlement by bank employees. U.S. District Judge Virginia M. Kendall handed down a sentence of 12 years and eleven months and ordered Matczuk to pay over $5.9 million in restitution.
The announcement of the sentence was made by several officials including Morris Pasqual, Acting United States Attorney for the Northern District of Illinois; Vincent R. Zehme from the FDIC’s Office of Inspector General; Machelle L. Jindra from HUD's Office of Inspector General; Ramsey E. Covington from IRS Criminal Investigation; Korey Brinkman from FHFA's Office of Inspector General; Douglas S. DePodesta from FBI Chicago Field Office; Andrea Peacock from Treasury's Office of Inspector General; Deborah Witzburg, City of Chicago Inspector General; and Kathryn B. Richards, Chicago Housing Authority Inspector General.
The federal investigation into Washington Federal's collapse led to charges against 16 individuals, including high-ranking bank employees accused of embezzling at least $31 million. While some defendants pleaded guilty or entered deferred prosecution agreements, Matczuk and three others were convicted after trials.
Significant amounts of the stolen funds were transferred without proper documentation to various individuals outside the bank, including Chicago attorney Robert M. Kowalski who received a 25-year sentence for bankruptcy fraud among other charges. His sister Jan R. Kowalski also pleaded guilty and received more than three years for her involvement.
Three former board members admitted guilt in falsifying records to mislead regulators: William M. Mahon was sentenced to 18 months, George F. Kozdemba to one year, and Janice M. Weston to three months.
Chicago attorney Patrick D. Thompson was convicted last year on charges related to false statements about payments received from Washington Federal and filing inaccurate tax returns concerning interest deductions he never paid.
