FEDERAL DEPOSIT r:-:scrance CORPOR<\TION WASHINGTON, D.C.

Transcription

1 FEDERAL DEPOSIT r:-:scrance CORPOR<\TION WASHINGTON, D.C. In the Matter of ALBERT C. KELLY, individually, and as an institution-affiliated party of SPIRITBANK TULSA, OKLAHOMA (INSURED STATE NONMEMBER BA?\K STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER PARTICIPATION FDIC-l5-0l 79e Subject to the acceptance of this STIPCLATIO:sl AND CONSENT TO THE ISSUANCE OF AN ORDER OF PROHIBITION FRO:Vl FCRTHER PARTICIPATION ("CONSENT AGREEMENT" by the Federal Deposit Insurance Corporation ("FDIC", it is hereby stipulated and agreed by and between a representative of the Legal Division of the FDIC and ALBERT C. KELLY ("Respondent" as follmvs: 1. The Respondent has been advised of the right to receive a NOTICE OF INTENTIOc\ TO PROHIBIT FROM FCRTHER PARTICIPATION ("NOTICE" detailing the violation of lmv or regulation, for which an ORDER OF PROHIBITIO>J FROM FCRTHER PARTICIPATION ("ORDER" may issue. Respondent has been further advised of the right to a hearing on the alleged charges under section 8(e of the Federal Deposit Insurance Act ("Act", 12 U.S.C. 1818(e, and the FDIC's Rules of Practice and Procedure, 12 C.F.R. Part The Respondent_ solely for the purpose of this proceeding, and without admitting or denying the violation, hereby consents to the issuance of an ORDER by the FDIC.

2 3. The Respondent further stipulates and agrees that such ORDER shall become effective upon its issuance by the FDIC. Thereafter. subject only to the conditions set forth in paragraph 4 of this CONSENT AGREEMEJT, the ORDER shall be fully enforceable pursuant to the provisions of section 8(i of the Act, 12 U.S.C. 1818(i. Any violation of the ORDER could also subject the Respondent to the penalties set forth under section 8(j of the Act, 12 U.S.C. 1818U- 4. In the event the FDIC accepts this COKSENT AGREEMENT and issues the ORDER, it is agreed that no action will be taken by the FDIC to enforce said ORDER unless the FDIC has reason to belie\'e that the Respondent has violated or is about to violate any provision of the ORDER. 5. In the event the FDIC accepts this CONSE:-JT AGREEMENT and issues the ORDER, Respondent hereby waives: (a (b (c The receipt of a NOTICE; All defenses to the allegations to be set forth in the NOTICE; A hearing conducted for the purpose of taking evidence on the allegations to be set forth in the NOTICE; (d (e The filing of proposed FIND[';GS OFF ACT AND CONCLUSIONS OF LAW; The issuance of a RECOM:-..1E:JDED DECISIOl",;" by an Administrative Law Judge in this matter: and 2

3 (f The filing of exceptions and briefs with respect to such RECOMMENDED DECfSJON. Dated this ff"aay of May, FEDERAL DEPOSIT INSURANCE CORPORATION RESPONDENT - Boyd W. Venable Senior Regional Attorney (b (6 3

4 FEDERAL DEPOSIT INSCRA'ICE CORPORATION WASHINGTON, D,C In the Matter of ALBERT C. KELLY, individually, and as an institution-affiliated party of SPIRJTBANK TULSA, OKLAHOMA (INSURED STATE NONMEMBER BANK ~ STIPLLATON AND CO:,,JSENT TO THE ISSUANCE OF AN ORDER TO PAY FDIC-15-0I 80k Subject to the acceptance of the STIPCLATIO:,,J Ac'!D CONSENT TO THE ISSUANCE OF A'I ORDER TO PAY ("CONSENT AGREE'"1ENT' by the Federal Deposit Insurance Corporation ("FDIC", it is hereby stipulated and agreed by and between a representative of the Legal Division of the FDIC and ALBERT C. KELLY ("Respondent", as follows: 1. Respondent has been adyised of the right to receive a NOTICE OF ASSESSMENT OF CIVIL MONEY PENAL TY, FINDINGS OF FACT, AND CONCLUSIONS OF LAW ("NOTICE OF ASSESSMENT" detailing an alleged violation of law or regulation, for which an ORDER TO PAY a civil money penalty may issue. Respondent has been further advised of the right to a hearing on the charges under section 8(i of the Federal Deposit Insurance Act ("Act", 12 U.S.C. 181 S(i. and the FDIC s Rules of Practice and Procedure, 12 C.F.R. Part 308. Respondent is represented by counsel. 2. The FDIC has reason to belieye that Respondent violated a law or regulation, by entering into an agreement pertaining to a loan by the Bank v.;ithout FDIC approval, in violation

5 of Section 24 of the Act, 12 U.S.C. 183la: 12 C.F.R. Part Respondent, solely for the purpose of this proceeding and without admitting or denying the violation, set forth in paragraph 2 of this CONSEKT AGREEMENT, hereby consents m1d agrees to the issuance of an ORDER TO PAY by the FDIC, and further consents and agrees to pay a civil money penalty ofs The penalty shall be paid to the Treasury of the United States pursuant to the pro\'isions of section 8(i(2 of the Act, 12 U.S.C. 1818(i(2. Respondent fmiher stipulates and agrees that such ORDER TO PAY shall be final and fully enforceable by the FDIC pursuant to the proyisions of section 8(i(2(I of the Act, 12 U.S.C. 1818(i(2(1. 4. Respondent further agrees to pay the ciyil money penalty assessed by delivering to the FDIC a check in the amount ofs made payable to the Treasury of the United States. 5. In the event the FDIC accepts this CONSENT AGREEMENT and issues the ORDER TO PAY, it is agreed that no action \Yill be taken by the FDIC to initiate any additional enforcement actions under section S(i of the Act. 12 U.S.C. 181 S(i, for the violation set fo11b in paragraph 2 of this CONSENT AGREE!\1ENT, or any action related to Claremore Construction and Development LLC and U.S. Payments LLC. 6. In the event the FDIC accepts this CONSENT AGREEMENT and issues the ORDER TO PAY, Respondent agrees not to seek or accept indemnification from any insured depository institution for the civil money penalty assessed and paid in this matter. 7. Respondent hereby waiyes for purposes of this proceeding: (a the receipt of a :--JOTICE OF ASSESSMENT; 2

6 (b the right Lo present defenses to the allegations to be set forth in the NOTICE OF ASSESSMENT; (c a hearing fortbe purpose of taking evidence on the allegations to be set fo1th in the NOTICE OF ASSESSMENT; (d (e (f (g the filing of proposed findings of fact and conclusions oflaw; a recommended decision of an administrative law judge; exceptions and briefs with respect to such recommended decision; and judicial review of the ORDER TO PAY as provided by 12 U.S.C. l818(h, or any other challenge to the validity of the Dated this ~ ORDER TO PAY. day of fv/a-y, (b (6 FEDERAL DEPOSIT rnsurance CORPORA Tl ON RESPONDENT (b (6 (b (6 3

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