{"id":48122,"date":"2015-05-11T06:14:33","date_gmt":"2015-05-11T10:14:33","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=48122"},"modified":"2015-05-11T07:16:57","modified_gmt":"2015-05-11T11:16:57","slug":"sec-charges-four-former-officers-of-delaware-bank-holding-company-with-disclosure-fraud","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2015\/sec-charges-four-former-officers-of-delaware-bank-holding-company-with-disclosure-fraud.html","title":{"rendered":"SEC Charges Four Former Officers of Delaware Bank Holding Company With Disclosure Fraud"},"content":{"rendered":"<p>SEC &#8211; The Securities and Exchange Commission today filed fraud charges against four former officers of Wilmington Trust for intentionally understating past due bank loans during the financial crisis.\u00a0 The former Delaware-based bank holding company was acquired by M&amp;T Bank in May 2011 and paid $18.5 million in September 2014 to settle related SEC charges of improper accounting and disclosure fraud.<\/p>\n<p>The SEC\u2019s complaint, filed in federal district court in Wilmington, Delaware, alleges the four took part in a scheme to mask the impact of real estate market declines on the bank\u2019s portfolio of commercial real estate loans.\u00a0 According to the SEC\u2019s complaint, the former officials improperly excluded hundreds of millions of dollars of past due real estate loans from financial reports filed by Wilmington Trust in 2009 and 2010, violating a requirement to fully disclose the amount of loans 90 or more days past due.<\/p>\n<p><a href=\"http:\/\/www.sec.gov\/news\/pressrelease\/2015-81.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEC &#8211; The Securities and Exchange Commission today filed fraud charges against four former officers of Wilmington Trust for intentionally understating past due bank loans during the financial crisis.\u00a0 The former Delaware-based bank holding company was acquired by M&amp;T Bank [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48122","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/48122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=48122"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/48122\/revisions"}],"predecessor-version":[{"id":48124,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/48122\/revisions\/48124"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=48122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=48122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=48122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}