FDIC wants $14.5 million from dead Bridgeport banker’s estate over massive fraud

John F. Gembara gave four customers of his fraud-ridden Washington Federal Bank for Savings unsecured “loan advances” totaling $14.5 million. The Sun-Times has identified the customers.

Blasting John F. Gembara’s handling of clout-heavy Washington Federal Bank for Savings, they say he gave no-collateral ‘loan advances’ without expecting repayment.

In the five years leading up to the strange death of John F. Gembara, the Bridgeport bank president found dead in December 2017 at a customer’s Park Ridge home, his lending practices took a bizarre turn, records examined by the Chicago Sun-Times show.

Gembara gave four customers a series of unsecured…

Original published: 2019-06-13 05:15:00 Read the full Chicago News here

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