By Zoe Read
Defense attorneys representing four former Wilmington Trust executives accused of bank fraud called on religious leaders and accounting experts to attest to their clients’ good character during the sixth week of their trial.
On Tuesday, attorneys for Robert Harra, David Gibson, William North and Kevyn Rakowski argued data, emails and character testimony indicate there was no criminal intent in their handling of past due loans.
Prior to witness testimony, Judge Richard Andrews deferred ruling on a motion for acquittal from the defense.
The defendants are accused of hiding millions in bad loans on the bank’s books from the Federal Reserve, the Securities and Exchange Commission, and the public between October 2009 and November 2010.
Federal prosecutors claim the four schemed to hide the true volume of losses. By the end of 2009, the bank reported just $11 million in past due loans while waiving more than $360 million worth, prosecutors allege. They contend the bank never disclosed its financial circumstances to investors.
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