A month after Edward H. Gobbo got out of bankruptcy, Washington Federal Bank for Savings CEO John F. Gembara starting giving him millions more in loans, records show. When the bank went bust, Gobbo or his immediate family owed over $3.8 million on 27 residential loans, some years overdue.
Matczuk, who said he did odd jobs for Washington Federal Bank for Savings and its employees, was given the money on orders of the late bank chief John F. Gembara.
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.’
John F. Gembara, the late boss of Washington Federal Bank for Savings, schemed with attorney Robert M. Kowalski, prosecutors told jurors Tuesday. Representing himself, Kowalski blamed Gembara.