The former chief credit officer and controller of Wilmington Trust were sentenced to prison Wednesday, capping the prosecution of four top executives for their roles in a massive reporting scandal that hid hundreds of millions of dollars in bad loans and ultimately led to the bank’s downfall.
U.S. District Judge Richard G. Andrews of the District of Delaware sentenced William North, Wilmington Trust’s lead credit officer, to four and a half years in prison and a $100,000 fine. Kevyn Rakowski, the bank’s former controller, received a sentence of three years.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]