Judge Nixes Acquittal Motion in Wilmington Trust Fraud Trial - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Judge Nixes Acquittal Motion in Wilmington Trust Fraud Trial

Posted: Apr 17, 2018 3:20 PM Updated:

DOVER, Del. (AP)- A federal judge has denied a defense motion asking him to acquit four former executives of Wilmington Trust Corporation charged with bank fraud and conspiracy.

Tuesday's ruling came after defense attorneys said in court papers last week that after calling almost two dozen witnesses and presenting volumes of exhibits over four weeks, prosecutors had failed to show the defendants engaged in any conspiracy or wrongdoing.

Prosecutors say the former Wilmington Trust executives concealed the truth about the bank's imploding commercial real estate loan portfolio before the century-old institution was hastily sold in 2011 while teetering 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.

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