Stay updated with breaking news from Therese Gembara. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
These Washington Federal Bank for Savings customers had no idea the high interest rates that attracted them were feeding the fraud. The bank’s “smooth operators” lured them in, the daughter of one victim says.
William M. Mahon was a high-ranking City Hall official under three former mayors and had close ties to the Daley family’s political organization.
Authorities say they’ve recovered $59 million toward the money lost when they shut down Washington Federal Bank for Savings, but they’re still out another $81 million, records show.
Washington Federal Bank for Savings failure trial of Robert Kowalski lays bare how CEO John F. Gembara told employees to conceal delinquent loans for millions owed by ‘friends of John.’
Five years before Washington Federal Bank for Savings was ordered closed because of massive fraud, CEO John F. Gembara’s wife told police she planned to call the FBI on her husband, newly obtained records show.