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USA v. Wilmington Trust Corporation et al

  1. February 27, 2019

    Ex-Wilmington Trust Execs Can Remain On Bail During Appeal

    Four former Wilmington Trust Corp. executives sentenced to three- to six-year prison terms for false reporting practices will remain on bail pending appeal as a Delaware federal judge decided Wednesday they raised a "fairly debatable" question as to whether their statements on past-due loans were objectively false under the law.

  2. January 07, 2019

    Convicted Wilmington Trust Execs Seek Bail During Appeal

    Four Wilmington Trust Corp. executives sentenced to three- to six-year prison terms in December for false reporting practices that crippled their bank sought bail pending appeal late Friday, with all raising multiple challenges to government claims they falsified past-due commercial loan status disclosures.

  3. December 19, 2018

    2 More Ex-Wilmington Trust Execs Get Years Behind Bars

    Two former Wilmington Trust executives said to have played critical on-the-ground roles in hiding a massive pile of bad loans from regulators and investors — eventually breaking the regional bank — were sentenced in Delaware federal court Wednesday to prison terms of 4½ and three years.

  4. December 17, 2018

    Wilmington Trust Execs Get 6-Year Prison Terms For Fraud

    Two former Wilmington Trust Corp. executives were ordered to prison for six years by a U.S. District Court judge in Delaware on Monday, the first of four bank officials to be sentenced after their conviction for a Great Recession securities fraud scheme that effectively broke the regional financial institution.

  5. December 12, 2018

    DOJ Urges Prison For Convicted Wilmington Trust Execs

    Federal prosecutors in Delaware recommended prison terms between five and eight years for four convicted Wilmington Trust Corp. executives at the center of a more than $200 million years-long cover-up of bad commercial loans, saying the deception led to huge investor losses and tarnishing of trust in financial industry safeguards.

  6. December 07, 2018

    Execs Urge No Or Little Prison In $200M Del. Bank Fraud Case

    Four Wilmington Trust executives found guilty in a nearly $200 million federal securities fraud case in May have appealed for no, or little, prison time instead of the up to nine- and 11 ¼-year recommendations issued by prosecutors, according to documents made public on Friday.

  7. October 10, 2018

    DOJ Rules Out Life Term Bids For Ex-Wilmington Trust Execs

    Federal prosecutors in Delaware reported an agreement Wednesday to scale back initial life sentence recommendations for four Wilmington Trust Corp. executives convicted of an estimated $196 million securities fraud in May, opting instead to seek prison terms topping out at 11¼ years.

  8. August 30, 2018

    Judge Denies Redo Motions By Convicted Wilmington Execs

    A Delaware federal judge on Thursday denied acquittal and new trial motions lodged by four former Wilmington Trust executives found guilty by a jury of securities fraud that stemmed from hundreds of millions of dollars in hidden real estate debt.

  9. June 11, 2018

    Ex-Wilmington Bank Execs Slam Convictions, Seek Acquittal

    Four ex-Wilmington Trust executives attacked their May convictions on federal securities fraud and conspiracy charges late Friday, demanding acquittal or new trials and accusing the government of missteps ranging from changing theories mid-trial to lacking evidence of criminal intent to conceal past due commercial loans.

  10. May 17, 2018

    Ex-Wilmington Trust Execs Convicted Of Fraud Want New Trial

    Four former Wilmington Trust Corp. executives convicted May 3 in Delaware on federal securities fraud and conspiracy charges for allegedly concealing bad commercial real estate loans from regulators and the public sought a new trial late Tuesday, arguing that prosecutors went outside the boundaries of the complaint.

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