Home > News & Events > Press Releases
Glynn Debter, Roy B. Jackson, Denny G. Kelly, John J. Lewis, Jr., Merritt Robbins, Robert O. Summerford, Jimmie Trotter and Bishop K. Walker, Jr. ("Respondents") and a representative of the Legal Division of the Federal Deposit Insurance Corporation ("FDIC") executed a Stipulation and Consent to the Issuance of an Order to Pay ("CONSENT AGREEMENT") dated March 31, 2003, whereby each Respondent, solely for the purpose of this proceeding and without admitting or denying any unsafe or unsound practice and/or breach of fiduciary duty for which civil money penalties may be assessed, consented and agreed to pay a civil money penalty in the amount of $10,000 to the Treasury of the United States.
After taking into account the CONSENT AGREEMENT; the appropriateness of the penalty with respect to the financial resources and good faith of Respondents; the gravity of the violations of law or regulation, breaches of fiduciary duty, or unsafe or unsound practices by Respondents; the history of previous violations, breaches or practices by Respondents; and such other matters as justice may require, the FDIC accepts the CONSENT AGREEMENT and issues the following:
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the unsafe or unsound practices and/or breaches of fiduciary duty set forth in paragraph 3 of the CONSENT AGREEMENT, a penalty of $10,000 be, and hereby is, assessed against Glynn Debter; a penalty of $10,000 be, and hereby is, assessed against Roy B. Jackson; a penalty of $10,000 be, and hereby is, assessed against Denny G. Kelly; a penalty of $10,000 be, and hereby is, assessed against John J. Lewis, Jr.; a penalty of $10,000 be, and hereby is, assessed against Merritt Robbins; a penalty of $10,000 be, and hereby is, assessed against Robert O. Summerford; a penalty of $10,000 be, and hereby is, assessed against Jimmie Trotter; and a penalty of $10,000 be, and hereby is, assessed against Bishop K. Walker, Jr. Each Respondent shall pay the civil money penalty to the Treasury of the United States as of the effective date hereof.
IT IS FURTHER ORDERED that the Respondents are prohibited from seeking or accepting indemnification from any insured depository institution for the civil money penalty assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this_______ day of_______________, 2003.
|Last Updated email@example.com|