Judge nixes overseas vacation for Wilmington Trust defendant
DOVER, Del. (AP) — A federal judge overseeing the criminal fraud trial against Wilmington Trust and four former top executives has refused to allow one of the defendants to leave the country.
Former controller Kevyn Rakowski sought a change in her pretrial release conditions so she and her husband could visit family in Scotland this summer. The attorney for Rakowski, who surrendered her passport, said she was not a flight risk.
Prosecutors opposed the request, noting that Rakowski faces serious charges and potential prison time if convicted.
The judge on Wednesday denied the request, saying Rakowski had presented no compelling reason for going to Scotland.
Prosecutors say Wilmington Trust executives hid the truth about the bank’s deteriorating commercial real estate loan portfolio before the bank’s collapse and hasty acquisition by M&T Bank in 2011.