Former Delaware bank executive pleads guilty

A former bank executive in Delaware has pleaded guilty to criminal conduct during employment at Wilmington Trust Corp.

Peter Haynes, a former relationship manager at the bank, appeared in federal court in Wilmington on Thursday. He pleaded guilty to one count of accepting a gift for procuring loans.

The 49-year-old banker is accused of exchanging favors and making millions of dollars worth of loan decisions with a bank customer based on their personal relationship.

“It is a serious offense for a bank insider to engage in self-dealing with a client for his own personal benefit,” said Charles M. Oberly, U.S. Attorney for the District of Delaware, in a statement. “The successful prosecution of Mr. Hayes demonstrates my Office’s commitment to uncover criminal misconduct committed by bank officers, particularly where such activity has the potential to affect the safety and soundness of a financial institution and its shareholders.”

United States District Judge Richard G. Andrews will sentence Hayes in March.