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USA v. Wilmington Trust Corporation et al

  1. May 03, 2018

    Former Wilmington Trust Execs Found Guilty Of Fraud

    A federal jury in Delaware on Thursday convicted four former Wilmington Trust Corp. executives on a string of criminal conspiracy, securities fraud and related charges for concealing hundreds of millions of dollars in bad commercial real estate loans in a series of disclosures and reports in 2009 and 2010.

  2. April 25, 2018

    Wilmington Trust Loan Cover-Up Case Goes To Del. Jury

    A federal jury in Delaware took up criminal charges Wednesday against four Wilmington Trust Corp. executives accused of conspiring to hide hundreds of millions of dollars in bad loans, after a prosecutor said in closing that the case focused on false statements and disclosures.

  3. April 20, 2018

    Windups, Jury Charge Loom In Wilmington Trust Trial

    Federal prosecutors and defense attorneys shipped 173 pages of jury-instruction proposals Friday to a federal judge hearing a criminal case in Delaware against four Wilmington Trust executives accused of hiding hundreds of millions of dollars in bad loans, with the words "past due" appearing 159 times.

  4. April 11, 2018

    Government Rests Case In Wilmington Trust Loan Fraud Trial

    Federal prosecutors rested their case Wednesday in the criminal trial of Wilmington Trust executives accused of hiding bad loans from investors and regulators, with the defense ready to commence their case beginning next week.

  5. April 09, 2018

    Defense Pushes KPMG Auditor On Wilmington Trust Waivers

    Counsel for Wilmington Trust Corp. executives on trial in Delaware federal court for conspiring to grant improper waivers for past-due commercial loans in 2009 and 2010 pressed a manager for the bank's KPMG LLP outside audit section Monday on multiple disclosures about the practice in shared documents.

  6. April 02, 2018

    Wilmington Trust Wary Of Loan Rechecks, Ex-Manager Says

    A former Wilmington Trust Corp. manager testifying under a plea agreement told a Delaware jury Monday that a supervisor suggested in mid-2009 that the bank should stop updating commercial property appraisals tied to troubled loans despite growing outside attention.

  7. March 29, 2018

    Del. Bank Paid Loan Interest To Prop Up Past-Due Clients

    Wilmington Trust Co. routinely extended new debt to some commercial borrowers so they could keep up monthly interest payments on matured loans as the Delaware-based bank struggled with a mounting and eventually ruinous past-due account burden, a former manager testified Thursday.

  8. March 21, 2018

    Wilmington Trust Execs Want Different 'Past Due' Rules Used

    Criminal trial battling over the meaning of "past due" picked up again Tuesday in the federal trial of four Delaware-based Wilmington Trust executives accused of keeping timed-out debts off bank financial reports, with defense attorneys seeking court approval to invoke a more-permissive standard.

  9. March 20, 2018

    Wilmington Trust Execs Say Fed Never Flagged Loan Reports

    An attorney for a former top Wilmington Trust Corp. executive noted Tuesday that Federal Reserve examiners never flagged seemingly "significant disparities" in Delaware bank loan reports in early 2009, despite later moves to charge the bank and four top officials for allegedly hiding past-due commercial loans.

  10. March 16, 2018

    Wilmington Trust Past Due Waivers Said To Run For Years

    A Wilmington Trust Corp. backlog of unacknowledged, past due commercial loans included 142 debts worth $177.3 million that were six months to three-and-a-half years past due when 2009 ended, a witness said Friday during a Delaware fraud and securities trial for four bank executives.

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