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FDIC Issues Removal and Prohibition Order Against Former Minnesota Banker
The Federal Deposit Insurance Corporation (FDIC) issued a removal and prohibition order against Bradley J. Oeltjenbruns.
Oeltjenbruns was executive vice president of Minnwest Bank South, Tracy, MN.
Oeltjenbruns consented to the order without admitting or denying culpability. The FDIC's action is based on allegations that, between 1997 and 2001, Oeltjenbruns made fictitious loans, falsified bank records and engaged in self dealing.
Under the order, Oeltjenbruns is prohibited from further participation in the banking industry without prior FDIC approval.
The order is attached.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 9,182 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars - insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet via the World Wide Web at www.fdic.gov and may also be obtained through the FDIC's Public Information Center (877-275-3342 or (703) 562-2200).
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