Feds Drop Wilmington Fraud Case After 3rd Circ. Defeat

By Jack Queen (July 6, 2021, 9:29 PM EDT) -- Delaware federal prosecutors said Tuesday they will not retry four former Wilmington Trust executives on fraud counts after the Third Circuit tossed all but two of the charges, ending a marquee criminal case stemming from the 2008 financial crisis.

Delaware U.S. Attorney David C. Weiss said in a statement that the "extremely disappointing" appellate ruling limited his office's options going forward. He also cited competing priorities, including "unprecedented" violent crime, rising opioid deaths and domestic terrorism.

The Third Circuit ruled in a bombshell opinion in January that the government hadn't proven former Wilmington executives Robert Harra, David Gibson, Kevyn Rakowski and...

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