December 21, 2018 / 1:30 AM / in 5 months

Former Wilmington Trust execs get prison terms over fraud charges

A Delaware federal judge has sentenced two former executives of Wilmington Trust to prison sentences for allegedly hiding millions of dollars of troubled loans at the bank from regulators and investors after the 2008 financial crisis.

U.S. District Judge Richard Andrews in Wilmington on Wednesday sentenced Wilmington’s former chief credit officer William North to four and a half years in prison and former controller Kevyn Rakowski to three years. North was also fined $100,000.

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