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#2200658 - 12/13/18 07:45 PM Prohibition Orders
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
Wow! I have seen some pretty shady stuff in my days but this one is up there for some of the worst as far as ethics goes.

https://www.federalreserve.gov/newsevents/pressreleases/enforcement20181213a.htm
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#2200660 - 12/13/18 07:50 PM Re: Prohibition Orders RockChucker, CAMS
Skittles Offline
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Skittles
Joined: Sep 2002
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TN
We looked at this earlier, too. Unbelievable!
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#2200682 - 12/13/18 08:56 PM Re: Prohibition Orders RockChucker, CAMS
HappyGilmore Offline
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Pulling people out of the ditc...
wow...and the Board at the bank they were going to was okay with that? just wow...
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#2200688 - 12/13/18 09:12 PM Re: Prohibition Orders HappyGilmore
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
Originally Posted By HappyGilmore
wow...and the Board at the bank they were going to was okay with that? just wow...


Right!?!?! I now know at least one bank that I wouldn't touch will a 10 ft pole. I can't imagine a bank like that will last very long after this.
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#2200818 - 12/14/18 08:44 PM Re: Prohibition Orders RockChucker, CAMS
John Burnett Offline
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John Burnett
Joined: Oct 2000
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Cape Cod
You might also note that, at least at the time the Notice of Intent was issued, the two men were still the CEO and EVP, substantial owners and board members of the bank they used the information for (they are still listed in those positions on the bank's website today). I just shook my head in disbelief when I read that Notice. I can't understand how they could think they wouldn't get caught and sued! I wonder what the local newspapers have had to say about this fiasco.

Their current bank reports $28M in assets and 7 employees at one office.
Last edited by John Burnett; 12/14/18 09:04 PM.
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