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Commerce Bancorp Probe Draws To A Close

Law360 (November 2, 2006, 12:00 AM EST) -- Two years after former executives were sentenced to prison, the Philadelphia prosecutor’s office has ended its probe into Commerce Bancorp Inc. in connection with an extensive corruption investigation.

“In 2004 and 2005, we reported on several inquiries by the U.S. Attorney in Philadelphia with which we have cooperated,” Commerce reported in a U.S. Securities and Exchange Commission filing on Wednesday. “We were recently advised by the U.S. Attorney’s office that it has concluded its investigations without any action against us and, as a result, Commerce and...
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