IN THE MATTER
Catherine Ferguson Former Manager of the Fourth |
No. 99-1104-I |
ORDER OF PROHIBITION
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 in which you engaged during your affiliation with Fourth Supervisory School
District Federal Credit Union (the 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. On or about
June 21, 1999, you pled guilty to one (1) count of Credit Union Embezzlement,
18 U.S.C. §657. You were sentenced on October 21, 1999, by the U.S. District Court for
the Western District of New York, to twelve months and one day of incarceration
followed by three years of probation. A copy of the Criminal Judgment and Disposition
entered by the U.S. District Court on October 21, 1999, is attached to this Order as
Attachment 1 and is incorporated by reference herein.
The offense to which you pled guilty was committed while you were employed as
manager of the Credit Union. At the time of your criminal actions, the Credit Union was
federally insured.
This offense 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.
NOTICE OF OPPORTUNITY FOR HEARING
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 likely, pose a threat to the interests of a credit union's members or threaten to
impair public confidence in the credit union. Such a request must state with particularity
the relief desired, the grounds, and must include, when
available, supporting evidence.
Any such request should be sent to: Secretary of the Board, National Credit
Union Administration, 1775 Duke Street, Alexandria, VA 22314-3428. This hearing will
be held in the Washington, DC metropolitan area, or such other place as designated by
the Board, in accordance with Subpart D of Part 747 of NCUA's Rules and Regulations,
12 C.F.R. §747.301 et seq.
PENALTY FOR VIOLATION OF ORDER OF PROHIBITION
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.
National Credit Union Administration
by:
___________________________________
_____________________
Anthony J.
LaCreta
Date
Acting Regional Director, Region I
National Credit Union Administration