Criminal charges against a bank that took money from the Troubled Asset Relief Program have been dropped. But former executives still stand accused.
Delaware-based Wilmington Trust Corp. was a recipient of $330 million from TARP’s Capital Purchase Program administered by the Department of the Treasury.
But at the time it applied for TARP funds, the government claims Wilmington had $300 million in unpaid loans to insolvent developers that it failed to disclose.
Source: Mortgage Daily