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...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Related  Case: 


Case Number

2:12-cr-00105

Court

Virginia Eastern

Nature of Suit

Date Filed

July 11, 2012

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.