Park Ridge man sentenced for embezzlement in failed Chicago bank case

CHICAGO - A federal judge has sentenced a suburban real estate developer to nearly 13 years in prison for his role in a scheme that embezzled millions of dollars from Washington Federal Bank for Savings, a failed Chicago institution.

Marek Matczuk, 61, of Park Ridge, was convicted last year on charges of conspiracy to embezzle and falsify bank records, along with aiding and abetting bank employees in the embezzlement. Matczuk and others siphoned off millions from Washington Federal under the guise of real estate loan disbursements, which were never repaid.

Washington Federal, located in the Bridgeport neighborhood, was closed in 2017 after regulators found it insolvent, citing at least $66 million in nonperforming loans. The federal investigation into the bank’s collapse revealed widespread embezzlement, with 16 individuals facing criminal charges. The conspirators, including the bank’s CFO and other executives, embezzled at least $31 million, much of it unaccounted for or transferred without proper documentation.

Judge Virginia Kendall sentenced Matczuk to 12 years and 11 months in prison and ordered him to pay over $5.9 million in restitution. His sentencing is among several stemming from the investigation.

Chicago attorney Robert Kowalski received a 25-year prison sentence in August for his role in laundering stolen funds. Kowalski’s sister, Jan Kowalski, was sentenced to more than three years for helping her brother hide assets during bankruptcy.

Other figures implicated include three former members of the bank’s board of directors, who admitted to falsifying records to mislead regulators. They received sentences ranging from three months to 18 months in prison. Patrick Thompson, a Chicago attorney and former alderman, was sentenced to four months in prison for false statements and tax fraud related to his dealings with the bank.