Former Wisconsin CEO fined and barred
The FDIC has issued a Stipulated Order to pay a civil money penalty of $140,000 to Geffrey A. Sawtelle, former president and CEO of Farmers Exchange Bank, Neshkoro, Wisconsin. The FDIC determined (and Sawtelle neither admits nor denies) that, while president and CEO of the bank between January 2009 and May 2014, Sawtelle caused the Bank to pay for personal expenditures without disclosure or authorization.
The FDIC also issued, with Sawtelle's consent, an order of prohibition from the banking industry.
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