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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