Overview

• The Supreme Court ruled that the federal law under which Thompson was convicted criminalizes only false statements, not misleading ones.
• Two counts of Thompson's 2022 conviction related to lying to bank regulators were overturned, while his tax-related convictions remain intact.
• The case has been remanded to the 7th Circuit Court of Appeals to determine if Thompson's statements were false in context.
• Thompson, a member of Chicago's Daley political dynasty, had received $219,000 in loans from a now-defunct bank and disputed the full repayment amount.
• The decision reflects the Court's ongoing trend of narrowing federal criminal statutes and limiting prosecutorial overreach.