DOVER, Del. (AP) — A federal judge has refused to overturn the fraud and conspiracy convictions of four former executives for the only financial institution to be criminally charged in connection with the federal bank bailout program.
In a ruling Thursday, the judge refused to enter judgments of acquittal for the former Wilmington Trust executives. He also rejected their alternative request for a new trial.
Former bank president Robert Harra Jr., former chief credit officer William North, former chief financial officer David Gibson and former controller Kevyn Rakowski were convicted in May on charges of fraud, conspiracy and making false statements to federal regulators.
Defense attorneys subsequently argued that the evidence wasn’t strong enough to support the guilty verdicts, and that errors during the trial warranted the convictions being overturned, or a new trial.