Ex-Wilmington Trust VP is Sentenced to 21-Months for Bank Fraud A federal judge has sentenced Joseph Terranova, a Former Wilmington Trust Corp. VP and commercial real estate manager, to 21 months in prison. Terranova’s sentence comes almost five years after he pleaded guilty to conspiracy to commit bank fraud related…
In federal court in New Jersey, a jury has found former investment manager Vincent P. Falci guilty of securities fraud and multiple counts of wire fraud related to a $10B Ponzi scam that defrauded over two hundred of his former clients, including Falci’s own relatives, friends, business associates, police officers,…
The Associated Press is reporting that the shareholders who sued Wilmington Trust are asking a federal judge to approve a proposed $210M bank fraud settlement reached with the bank. The plaintiffs contend that the bank fraudulently hid billions of dollars in bad loans while bank officials misled investors and regulators…