Former Wilmington Trust Officer Pleads Guilty to Bank Conspiracy

May 08, 2013 -- 6:38pm

A former Wilmington Trust Officer has pleaded guilty to bank conspiracy.  US Attorney for Delaware, Charles Oberly says 45 year old Joseph Terranova before Judge Gregory Sleet.  Terranova was a Vice President/Division Manager of the Delaware Commercial Real Estate Division of Wilmington Trust Company.  Officials says he conspired to extend credit to customers of the bank under terms inconsistent with those approved by the bank – including loans to Dover developer Michael Zimmerman.  Terranova faces up to 5 years in prison and a $250,000 fine.

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