Government prosecutors won a victory prior the upcoming trial of former Wilmington Trust executives.
Defendants Kevyn Rakowski, David Gibson, Robert Harra, and William North claimed a definition of overdue loans did not apply. Harra is the former president of Wilmington Trust.
A U.S. District Court judge ruled against the defendants. Had the ruling gone the other way the government’s case would have been weakened.
The case against the four men centers on overdue loans not being reported at the bank, which later underwent a financial collapse, with Buffalo-based M&T buying the bank and financial services company for $300 million.
M&T settled separately with the government.
A jury has been selected for the trial, which has been in the works for years.
Click here for previous stories on the Wilmington Trust case.
