Two of Wilmington Trust’s former top executives were each sentenced to six years in prison Monday for their roles in a massive reporting scandal that hid hundreds of millions of dollars in bad loans from regulators and investors, leading to the bank’s collapse.
Robert V.A. Harra, Wilmington Trust’s former president, and David Gibson, who served as the bank’s chief financial officer, were the first of four defendants to be sentenced this week by U.S. District Judge Richard G. Andrews, after a federal jury convicted them of multiple crimes stemming from the bank’s downfall in 2011.
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