Park Ridge real estate developer convicted

A Park Ridge real estate developer has been convicted of participating in a conspiracy that embezzled millions of dollars from the failed Washington Federal Bank for Savings, the U.S. Attorney's Office for Northern Illinois announced Monday.

Marek Matczuk, 60, and co-conspirator Miroslaw Krejza, 65, of Chicago were found guilty after a three-week trial in federal court. They were involved in the conspiracy for more than a decade, falsifying bank records and aiding and abetting embezzlement by bank employees, the news release said.

The funds were disguised as real estate development loans that they were not required to pay back.

Washington Federal Bank for Savings was shut down in 2017 for insolvency.