6 Bank Of The Commonwealth Insiders Charged With Fraud

Law360, New York (July 12, 2012, 10:28 PM EDT) -- The ex-CEO of collapsed Bank of the Commonwealth and five others were arrested Thursday in Virginia on charges of fraud stemming from an alleged scheme that masked the bank's nonperforming assets.

The indictment against ex-CEO Edward J. Woodard; his son Troy Brandon Woodard, who was vice president of a bank subsidiary; Chief Lending Officer Simon Hounslow; Executive Vice President Stephen G. Fields; and favored borrowers Thomas E. Arney and Dwight A. Etheridge was unsealed Thursday in Virginia federal court after the six men were arrested....
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