Feds Announce Indictment in Local Bank Probe

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    NEWSLETTERS

    TK

    Federal prosecutors have obtained another indictment in a criminal probe of the failed Wilmington Trust bank.

    Officials announced a seven-count indictment this week against former Wilmington Trust official Peter Hayes of Newark.
     
    The 48-year-old Hayes is charged with bank fraud, bank bribery and fraudulently benefiting in loan transactions. His lawyer, Eugene Maurer, says Hayes maintains his innocence.

    The indictment alleges that Hayes, a former commercial real estate lender, engaged in several fraudulent and improper transactions with Anderson Homes, a well-known Delaware homebuilder.
     
    Hayes is one of several former Wilmington Trust officials charged with crimes in an ongoing federal investigation of the bank's lending practices. The 107-year-old institution was sold to M&T Bank in 2010 after its deteriorating commercial loan portfolio left it on the verge of collapse.