Edward H. Gobbo outside his home. His bankruptcy saw him get out of having to pay $4 million he owned on loans from Washington Federal Bank for Savings. One month after getting out of bankruptcy, Gobbo again was getting the first of what ultimately was millions of dollars more in loans from the Bridgeport bank that ended up being shut down for fraud. When the bank went bust, Gobbo or his immediate family owed more than $3.8 million on 27 residential loans, some of them years overdue. (Anthony Vazquez / Sun-Times)
As the president of a tiny Bridgeport bank was running what ultimately was exposed as a multimillion-dollar embezzlement scheme, one of its biggest customers was getting out of having to repay $4 million he owed the bank by filing for bankruptcy.
But that didn’t stop Washington Federal Bank for Savings from lending even more money to Edward H. Gobbo once his bankruptcy court case was over.
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