One former high-ranking Wilmington Trust executive facing federal fraud charges pleaded not guilty Thursday in U.S. District Court in Wilmington.
The bank’s former chief credit officer, William North, was in court for an arraignment on charges alleging he made false statements to the Federal Reserve and U.S. Securities and Exchange Commission.
North was indicted earlier this month along with the bank’s former controller Kevyn N. Rakowski for making false statements to the SEC and Federal Reserve concerning the total quantity of past-due loans in reports filed in 2009.
Wilmington Trust was sold to M&T Bank in 2010 after a series of bad real estate loans left the over 100 year old financial institution on the verge of closing down.
