Wilmington Trust Co. indicted
By Jeff Sorg, OnlineEd Blog
(January 8, 2016) – U.S. Attorney Charles Oberly, Delaware, announced Wednesday that Wilmington Trust Co. has been indicted as part of a criminal case against four former executives charged with concealing problematic loans after the financial crisis. The four were charged with fraud, conspiracy and making false statements to federal regulators. Wilmington was the first recipient of federal bailout funds from the Troubled Asset Relief Program to be indicted.
Wilmington Trust reportedly received $330 million in federal bailout money in 2008, in response to the nation’s subprime mortgage crisis.
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Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center’s CDEi Designation for distance education in 2008-2018.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.