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Court rejects appeals by Norfolk bankers convicted of fraud, causing bank's 2011 collapse

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RICHMOND, Virginia — The convictions of three Norfolk bankers found guilty of fraud in the collapse of the Bank of the Commonwealth have been upheld by an appeals court.

The Virginian-Pilot (http://bit.ly/1KM0U99) reports the Fourth U.S. Circuit Court of Appeals on Friday upheld the convictions of former CEO Edward T. Woodard; his son, T. Brandon Woodard; and former Executive Vice President Stephen Fields.

All three are serving federal prison sentences, varying in length from eight to 23 years, for a conspiracy that brought down the bank in 2011.

Fields argued on appeal he was not given enough time to testify at his 2013 trial. The Woodards argued evidence was insufficient for their convictions on conspiracy to commit bank fraud.

The court's opinion said no reversible error was found in any of the appeals.


Information from: The Virginian-Pilot, http://pilotonline.com

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