Feds Announce Indictment in Local Bank Probe

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.

Copyright AP - Associated Press
Contact Us