The long-awaited Wilmington Trust criminal trial is finally underway in a Delaware federal court, as federal prosecutors this week made their case that four of the bank’s former top executives orchestrated a scheme to hide hundreds of millions of dollars in bad loans from regulators and investors.
The individual defendants maintained their innocence and deny that a conspiracy ever existed. The defense team, which includes Bartholomew J. Dalton and McCarter & English chairman Michael P. Kelly, argues that the loan waiver practice was common in the industry and no secret to regulators.
Click to read full article: “Lawyers Spar over Conspiracy Allegations as Wilmington Trust Trial Ends Week 1”