Bank Of The Commonwealth Execs Denied New Fraud Trial

Law360, New York (August 19, 2013, 6:47 PM EDT) -- A Virginia federal judge on Friday refused to acquit a former Bank of the Commonwealth CEO and other executives convicted for their roles in a $71 million scheme, finding that the jury had ample evidence when it found them guilty of masking the now-defunct bank's troubled assets.

The rejection means that four executives will be sentenced in the coming months for their roles in a scheme that led to one of largest bank failures in Virginia's history, according to court records. U.S. District Judge Raymond Jackson...
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