Just eight days after being released from Leavenworth Federal Penitentiary, John Walsh died. It was an inglorious end to an often spectacular Midwest bank career. Walsh had been the major shareholder and president of Chicago National Bank. Following its failure in 1905, he was convicted on January 20, 1908, for misapplication of funds and sentenced to five years. He was released from prison on October 23, 1911.
Mr. Walsh had been shown to have fraudulently issued bank call reports. Chicago National had been loaning funds to institutions and persons close to Walsh, and it was his intent to hide the practice not just for financial reasons. Among those connections to the bank were the Dawes brothers, Charles and Rufus.
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