Ald. Patrick Daley Thompson (11) during a February 2020 City Council meeting [Colin Boyle/Block Club Chicago]

Ald. Patrick Daley Thompson (11) vowed to defend himself against a federal indictment entered on Thursday, blaming “inadvertent tax preparation errors” after prosecutors said he repeatedly and knowingly lied to federal tax collectors and banking regulators.

The 10-page indictment, published late Thursday afternoon by U.S. Attorney John Lausch, alleges that Thompson lied twice in 2018 to the Federal Deposit Insurance Corporation (FDIC) by understating the outstanding loans he had taken out from the now-insolvent Washington Federal Bank for Savings. Prosecutors additionally allege the alderman, who is also a practicing attorney, knowingly undershot his income on every annual tax return he filed between 2014 and 2018.