Fraud Trial of Former Wilmington Trust Executives Begins - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Fraud Trial of Former Wilmington Trust Executives Begins

Posted: Mar 12, 2018 7:49 AM Updated:

WILMINGTON, Del. (AP)- Jurors are set to hear opening statements and testimony in the federal fraud and conspiracy case against four former executives of Wilmington Trust Corporation.

Former bank president Robert V.A. Harra Jr., and three other former executives are charged with fraud, conspiracy and making false statements to federal regulators.

Prosecutors, who were to begin presenting their case Monday, say Wilmington Trust, through its senior executives, concealed the truth about its imploding commercial real estate loan portfolio before the century-old institution was hastily sold in 2011 as it teetered on the edge of collapse.

The bank itself - the only financial institution to be criminally charged in connection with the federal bank bailout program - reached a $60 million settlement with prosecutors last year just as the trial was set to start.

  • Most Popular VideosMost Popular VideosMore>>

  • Delmar Native Serves at MLB All Star Game As Nationals' Grounds Keeper

    Delmar Native Serves at MLB All Star Game As Nationals' Grounds Keeper

    WBOC Sports Director Matt Pencek was in Washington, DC at Nationals Park for the MLB All-Star Game. He profiles Jeff Fleetwood from Delmar who finds himself at Nationals Park and on the field but not as a player.

    More

    WBOC Sports Director Matt Pencek was in Washington, DC at Nationals Park for the MLB All-Star Game. He profiles Jeff Fleetwood from Delmar who finds himself at Nationals Park and on the field but not as a player.

    More
  • Police Still Searching for Suspect in Viral Video of Neighborhood Brawl

    Police Still Searching for Suspect in Viral Video of Neighborhood Brawl

    The video involves hundreds of people and a car one man used as a weapon, according to Cambridge Police. In the video, there are screams of terror as one man, police identified as 24 year-old Craig Wallace, drives the car into a group of people, knocking some down to the ground. Later in the video, the car rams into another car, barely missing one person. Police say Wallace's brother broke his leg in the incident in what appears to be a family conflict.

    More

    The video involves hundreds of people and a car one man used as a weapon, according to Cambridge Police. In the video, there are screams of terror as one man, police identified as 24 year-old Craig Wallace, drives the car into a group of people, knocking some down to the ground. Later in the video, the car rams into another car, barely missing one person. Police say Wallace's brother broke his leg in the incident in what appears to be a family conflict.

    More
  • Wicomico County Mourns the Loss of Chief David Barry

    Wicomico County Mourns the Loss of Chief David Barry

    Friends and coworkers spoke today on behalf of Fire Chief David Barry's sudden passing. The longtime volunteer firefighter was killed Saturday in a car accident in Delaware. WBOC's Erin Tyszko spent the day at the Allen Volunteer Fire Company, where Barry spent a lot of his time.

    More

    Friends and coworkers spoke today on behalf of Fire Chief David Barry's sudden passing. The longtime volunteer firefighter was killed Saturday in a car accident in Delaware. WBOC's Erin Tyszko spent the day at the Allen Volunteer Fire Company, where Barry spent a lot of his time.

    More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices