August 19, 2013
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.
July 23, 2013
A Virginia federal judge on Monday sentenced a former real estate developer and restaurateur to 27 months in prison and ordered him to pay millions in restitution after he pled guilty last year to multiple charges of fraud that resulted in the collapse of the Bank of the Commonwealth.
May 24, 2013
A Virginia federal jury Friday convicted former Bank of the Commonwealth CEO Edward Woodard and three others for their roles in a scheme that hid the now defunct bank's troubled assets, all but closing a case that defrauded the government of $71 million and led to the bank's 2011 failure.