Wilmington Trust Corp. Added as Defendant in Bank Fraud Case - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Wilmington Trust Corp. Added as Defendant in Bank Fraud Case

Posted: Updated:

WILMINGTON, Del. (AP)- A federal grand jury has issued a superseding indictment adding Wilmington Trust Corp. as a defendant in a bank fraud and conspiracy case against four former top executives.
    
The indictment returned Wednesday charges the defendants with concealing information about Wilmington Trust's deteriorating commercial real estate loan portfolio before its collapse and hasty acquisition by M&T Bank Corp. in 2011.
    
Former Wilmington Trust president Robert V.A. Harra Jr., former chief financial officer David Gibson, former chief credit officer William North, and former controller Kevyn Rakowski were charged in an August indictment with fraud, conspiracy and making false statements to federal regulators.
    
The superseding indictment alleges that Wilmington Trust, through its senior executives, concealed the truth about its loan portfolio from bank regulators, investors and the Securities and Exchange Commission.

  • Business NewsMore>>

  • Delaware Electric Cooperative Distributing Profits to Members

    Delaware Electric Cooperative Distributing Profits to Members

    11/30/2017 08:04:00 -05:002017-11-30 13:04:00 GMT
    Thursday, November 30 2017 8:06 AM EST2017-11-30 13:06:00 GMT
    Directors of Delaware Electric Cooperative have voted to return nearly $5 million in capital credits to the co-op's member-owners.More
    Directors of Delaware Electric Cooperative have voted to return nearly $5 million in capital credits to the co-op's member-owners.More
  • Maryland Official Wants Sweeping Change in Craft Beer Rules

    Maryland Official Wants Sweeping Change in Craft Beer Rules

    11/21/2017 10:08:00 -05:002017-11-21 15:08:00 GMT
    Tuesday, November 21 2017 11:21 AM EST2017-11-21 16:21:59 GMT
    (Photo credit: MGN)(Photo credit: MGN)
    Maryland's comptroller is recommending sweeping changes to the state's regulation of craft breweries.More
    Maryland's comptroller is recommending sweeping changes to the state's regulation of craft breweries.More
  • New Delaware Policy Requires Screening of LLCs

    New Delaware Policy Requires Screening of LLCs

    11/20/2017 10:40:00 -05:002017-11-20 15:40:00 GMT
    Monday, November 20 2017 10:40 AM EST2017-11-20 15:40:46 GMT
    Delaware's secretary of state is implementing a new requirement to ensure the state's 1.3 million business entities are regularly screened against a federal database of terrorists, international drug traffickers and other criminals.More
    Delaware's secretary of state is implementing a new requirement to ensure the state's 1.3 million business entities are regularly screened against a federal database of terrorists, international drug traffickers and other criminals.More
Powered by Frankly

All content © Copyright 2000 - 2017 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices