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Feds dropping case against former Wilmington Trust execs
Federal prosecutors in Delaware have decided not to retry four former executives for the only financial institution to be criminally charged in connection with the federal bank bailout program in the wake of the 2008 financial crisis
By RANDALL CHASE Associated Press
July 6, 2021, 10:55 PM
• 4 min read
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DOVER, Del. After being dealt a stunning setback by an appeals court, federal prosecutors in Delaware have declined to retry four former executives for the only financial institution to be criminally charged in connection with the federal bank bailout program in the wake of the 2008 financial crisis.
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July 6 (Reuters) - The U.S. government on Tuesday ended its criminal case accusing four former Wilmington Trust Co executives of hiding troubled loans from regulators after the 2008 financial crisis, leading to the company s sale at a fire-sale price.
U.S. Attorney David Weiss in Delaware made the decision after a federal appeals court set aside the May 2018 jury convictions of Wilmington s former President Robert Harra, Chief Financial Officer David Gibson, Controller Kevyn Rakowski and Chief Credit Officer William North.
U S District Attorney won t refile charges against former Wilmington Trust executives delawarebusinessnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from delawarebusinessnow.com Daily Mail and Mail on Sunday newspapers.
Third Circuit Court of Appeals Reverses Convictions of 4 Wilmington Trust Officers wgmd.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wgmd.com Daily Mail and Mail on Sunday newspapers.