)
IN THE MATTER OF                       )
                                       )
PAUL WALKER                            )            
                                       )    No. 93-0202 IV
An Institution Affiliated Party and    ) 
Person Participating in the Affairs    )
of the School District 144             )
Employees Federal Credit Union         )
                                       )

Pursuant to Section 206(i)(1) of the Federal Credit Union Act, 12 U.S.C. §1786(i)(1), you are hereby notified that you are prohibited from participating in any manner in the affairs of any federally insured credit union. This prohibition results from activities you engaged in during your affiliation with School District 144 Employees Federal Credit Union. This prohibition is effective immediately upon service. In accordance with Section 206(g)(7)(A) of the Federal Credit Union Act, 12 U.S.C. §1786(g)(7)(A), this Order shall constitute a prohibition from further participation in any manner in the affairs of any federally insured financial institution, or other entity

identified therein, without the written permission of the appropriate federal regulatory agency. This Order has been issued based upon the following information.

You pleaded guilty to one violation of Title 18, United States Code, Section 1344, financial institution fraud. You were sentenced on October 9, 1992, by the U.S. District Court for the Northern District of Illinois, to imprisonment for twenty-four months, supervised release for three years following release from imprisonment, and ordered to pay restitution of $400,000.00. A copy of the Judgment in a Criminal Case, dated October 23, 1992, is attached to this Order as Attachment 1 and is incorporated by reference herein. Because an appeal has not been filed within the time specified by the Federal Rules of Appellate Procedure, your conviction is now final.

The offense of which you were convicted was committed while you were employed as the manager of the School District 144 Employees Federal Credit Union of Chicago Heights, Illinois. You pleaded guilty to embezzling more than $400,000.00 from the credit union. By maintaining two sets of credit union records, you were able to convert members' funds to your own use. At the time of your criminal actions, School District 144 Employees Federal Credit Union was a federally insured credit union.

The offense to which you pleaded guilty involves personal dishonesty and breach of trust. Your continued participation in the affairs of any federally insured credit union may pose a threat to the interests of credit union members and may threaten to impair public confidence in the credit union involved.

Pursuant to Section 206(i)(3), of the Federal Credit Union Act, 12 U.S.C. §1786(i)(3), you may request in writing, within thirty days of service of this Order, an opportunity for a hearing at which you may present evidence and argument that your continued participation in the affairs of any federally insured credit union would not, or would not be likely to, pose a threat to the interests of that credit union's members or threaten to impair public confidence in the credit union. Any such request should be sent to: Secretary of the Board, National Credit Union Administration, Washington, D.C. 20456. This hearing will be held in Washington, D.C., in accordance with Subpart D of Part 747 of NCUA's Rules and Regulations, 12 C.F.R. §747.301 et. seq.

Pursuant to Section 206(k)(2) of the Federal Credit Union Act, 12 U.S.C. §1786(k)(2), any violation of this Order may subject you to a Civil Money Penalty of up to $1,000,000.00 a day for each day said violation continues. In addition, pursuant to Section 206(l) of the Federal Credit Union Act, 12 U.S.C. §1786(l), any violation of this Order is a felony offense that is punishable by imprisonment of up to five years and a fine of up to $1,000,000.00.

This is to certify that I have served the foregoing Order of Prohibition in the Matter of Paul Walker, by depositing the same with the U.S. Postal Service, certified mail, return receipt requested, addressed to Raymond Garza, Esquire, 3612 West Lincoln Highway, Olympia Fields, Illinois 60461, the attorney of record for Paul Walker.