The defense puts the case back to Ald. the tax trial of Patrick Daley Thompson; Closing arguments set for Monday – CBS Chicago
CHICAGO (CBS) — The first trial of a Chicago councilman in more than two decades will conclude next week, after Ald’s attorneys. Patrick Daley Thompson (11and) closed their case on Friday in his federal tax trial.
Closing arguments are set for Monday morning, after jurors heard more than three days of testimony in the case this week. Deliberations would begin later on Monday.
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Prosecutors say Thompson lied to federal authorities about money he borrowed from the now defunct Federal Bank of Washington in Bridgeport. He is also accused of thinking he could get away with these alleged lies after the president of the bank who gave him the money took his own life. His lawyers attribute this to unintentional mistakes.
When it comes to his federal trial, there are plenty of firsts for Thompson, who is the nephew of former Mayor Richard M. Daley and the grandson of Richard J. Daley. Thompson, 54, is the first member of the Daley family to face federal charges, and also the first Chicago city councilman to stand trial in decades.
In his case, federal prosecutors said Thompson borrowed $219,000 from the defunct Washington Federal Bank in Bridgeport. They allege Thompson only made one payment and paid no interest, even though he reported interest payments on his income taxes. The feds said Thompson then lied to the FDIC about how much he borrowed.
Immediately after the April 2021 indictment, Thompson said he was innocent and had committed no crime. During opening statements at his trial on Tuesday, defense attorney Chris Gair blamed the case on an oversight in preparing tax returns and Thompson’s hectic life.
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” He’s worn out. He bit off more than he can chew,” Gair told jurors as to why the alderman could not remember the amount borrowed. And when federal regulators questioned Thompson, Gair said, “Instead of correcting him, instead of refreshing his memory, they framed him. I wonder why?”
Prosecutors also questioned a former bank worker who was also charged and pleaded guilty to helping former bank chairman John Gembara and others embezzle millions. She testified to several meetings between Thompson and Gembara, in addition to Gembara donating a sum of money.
More than a dozen people have been charged in connection with the bank’s failure.
Thompson faces five counts of filing a false tax return and two counts of making false statements to the Federal Deposit Insurance Corp regarding $219,000 in loans and other payments he received from the Washington Federal Bank. for Savings. The false declaration charges each carry a sentence of up to 30 years in prison, while the tax charges each carry a sentence of up to 3 years behind bars.
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