More charges in Wilmington Trust lending probe
Federal prosecutors have filed criminal charges against another Delaware businessman amid their probe of lending practices of the failed Wilmington Trust bank.
A felony information filed Monday charges Salvatore J. Leone of Dover with conspiracy to commit bank fraud. Leone and his attorney, James Liguori, both declined to comment.
Leone was a business partner of Michael Zimmerman, a prominent Dover developer indicted earlier this year on charges of conspiracy, money laundering and making false statements to a financial institution.
Prosecutors allege that Leone conspired with others to submit fraudulent requests to Wilmington Trust to draw on construction loans, and that he and Zimmerman then used the money for unrelated purposes. Prosecutors also claim that Leone and others kept construction project funds for personal use.
Copyright © Dec 18, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
Advanced permission from Delmarva Broadcasting Company required for publication or rebroadcast.