After 19 days of deliberation, a jury in Pennsylvania returned a verdict finding Glenn Holck, 44, president of Commerce Bank/Pennsylvania and Stephen Umbrell, 45, regional vice-president of Commerce Bank/Pennsylvania, each guilty of three counts, including fraud. Corey Kemp, Philadelphia's former treasurer, was convicted on 27 counts, including fraud and filing false tax returns. The jury was unable to reach a verdict on 14 of the 79 separate counts in the case.

The Commerce executives were accused of giving Kemp home and auto loans despite his poor credit. According to the indictment, Commerce received $1.5 million in bond underwriting fees from the city before Kemp resigned in December 2003, as well as the contracts for a $30 million line of credit and $50 million in city deposits.

Holck and Umbrell were accused of approving questionable loans to politically connected people, including the Mayor's son and a mayoral fundraiser, in order to win city contracts for Commerce Bank. Among the loans was a mortgage made to Kemp.

Prior to becoming city treasurer, Kemp was denied a $2,000 line of credit from Commerce. A year later, it was alleged, Holck and Umbrell helped Kemp secure a 100 percent mortgage on his house despite poor credit, more than $30,000 in debts, and an inability to prove that he could pay closing costs.

Today, in an important victory for the people of Philadelphia and the entire region, this jury has stated loudly and clearly that government is not for sale.

About 10 months ago, I called the charging of the 12 individuals in this case an indictment of a “culture that breeds corruption.” With this verdict, a jury has confirmed that such a culture – one that endorses and even embraces a “pay to play” model for doing business - must be changed.

This verdict is a victory for good government. It is also a victory for honest public officials, and for honest businesses that don’t try to buy the right to do city work.

This verdict says that the “pay to play” system should not be accepted as simply how business gets done or, in the words of Corey Kemp, “the way it is.”