NORFOLK, Va. (AP) — A federal court jury has found former Bank of the Commonwealth president and CEO Edward Woodard Jr. and three others guilty of conspiring to defraud the bank out of $71 million.
One other man, former vice president Simon Hounslow, was acquitted on Friday. Jury deliberations had begun May 17 following nine weeks of testimony.
Woodward was found guilty of conspiracy to commit bank fraud and 10 related counts. Woodward's son, mortgage specialist T. Brandon Woodward, former vice president Stephen Fields, and developer and bank customer Dwight Etheridge also were found guilty on several counts.
The bank failed in September 2011 amid more than $150 million in losses.
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