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{{7-31-94 p.C-2739}}
   [10,648] In the Mater of Erik F. Lawson, Jr., Peoples Bank One, West Lebanon, Pennsylvania, Docket No. FDIC-92-293b (9-29-92).

   Respondent agrees to cease and desist from unsafe or unsound banking practices and to make restitution to bank. (This order was terminated by order of the FDIC dated 4-20-93; see ¶15,655.)

   [.1] Institution-Affiliated Party—Restitution Required

In the Matter of
ERIK F. LAWSON, JR. individually
and as an institution-affiliated
party of
PEOPLES BANK ONE
WEST LEBANON,PENNSYLVANIA
(Insured State Nonmember Bank)
ORDER TO CEASE AND DESIST
FDIC-92-293b

   Erik F. Lawson, Jr., ("Respondent") having been advised of his right to a Notice of Charges and of Hearing detailing the unsafe or unsound banking practices and violations of law and/or regulations alleged to have been committed by him and of his right to a hearing on the alleged charges under section 8(b)(1) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(b)(1), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF AN ORDER TO CEASE AND DESIST ("CONSENT AGREEMENT") with counsel for the Federal Deposit Insurance Corporation ("FDIC"), dated July 13, 1992, whereby, solely for the purpose of this proceeding and without admitting or denying the alleged charges of unsafe or unsound banking practices and violations of law and/or regulations, Respondent consented to the issuance of an ORDER TO CEASE AND DESIST ("ORDER") by the FDIC.
   The FDIC considered the matter and determined that it had reason to believe that Respondent had engaged in unsafe or unsound banking practices and had committed violations of law and/or regulations. The FDIC, therefore, accepted the CONSENT AGREEMENT and issued the following:

ORDER TO CEASE AND DESIST

   [.1] 1. IT IS HEREBY ORDERED that Respondent shall be, and hereby is, held liable for making restitution to People Bank One, West Lebanon, Pennsylvania ("Bank"), in the aggregate sum of $19,767.75 which sum represents either the amount of unreimbursed funds taken from the Bank by Respondent or the interest income foregone when Respondent failed to pay interest on extensions of credit, all as set forth in paragraphs 2 through 13.
   2. During the period from April 11, 1988 through May 10, 1989, Respondent caused or permitted the Bank to extend credit to himself as evidences by the issuance of Bank cashier's checks on Respondent's behalf without simultaneous payment required therefore and without payments of service charges. Respondent later reimbursed the Bank for the amount of the cashier's checks.
   3. The amount of interest foregone by the Bank when Respondent failed to pay interest on the extensions of credit described in paragraph 2 amounted to $3,310.93.
   4. The amount of service charges foregone by the Bank when Respondent failed to pay service charges on the issuance of cashier's checks described in paragraph 2 amounted to $48.00.
   5. During the period from March 12, 1990 through December 10, 1990, Respondent took cash from a branch manager's teller drawer. Respondent later reimbursed the Bank for the amount of cash taken from the Bank.
   6. The amount of interest foregone by the Bank when Respondent failed to pay interest on the cash taken described in paragraph 5 amounted to $800.00.
   7. During the period from May 1, 1991 through July 19, 1991, Respondent took cash from both the vault and from a branch manager's teller drawer. Respondent has not reimbursed the Bank for the amount of cash taken during this period.
   8. The amount of cash taken by Respondent as described in paragraph 7 amounted to $15,120.00.
   9. The amount of interest foregone by the Bank when Respondent failed to pay interest on the extension of credit described in paragraph 7 amounted to $200.00.
   10. During the period from April 9, 1990 through June 14, 1990, Respondent caused {{7-31-94 p.C-2740}}or permitted the Bank to extend credit to himself by having the Bank purchase on April 9, 1990 from Respondent's wholly owned corporation shares of stock it owned in a public corporation and sell back on June 14, 1990 to his corporation the shares of stock in the public corporation.
   11. The amount of interest foregone by the Bank when Respondent failed to pay interest on the extension of credit described in paragraph 10 amounted to $279.50.
   12. During the period from October 5, 1990 through October 25, 1990 Respondent caused or permitted the Bank to extend credit to himself by temporarily preventing the Bank from presenting to the issuing bank a third party check payable to Respondent and tendered to the Bank by Respondent in satisfaction of one of Respondent's extensions of credit from the Bank.
   13. The amount of interest foregone by the Bank when Respondent failed to pay interest on the extension of credit described in paragraph 12 amounted to $9.32.
   IT IS FURTHER ORDERED, that the following action be taken:
   Respondent, shall make full restitution to the Bank in the amount of $19,767.75 no later than ten (10) calendar days after the effective date of this ORDER.
   The effective date of this ORDER shall be ten (10) calendar days after the date of its issuance. This ORDER shall be binding upon Respondent.
   The provisions of this ORDER shall remain effective and enforceable except to the extent that, and until such time, as any provision of this ORDER shall have been modified, terminated, suspended, or set aside by the FDIC.
   Dated at New York, New York, this 29th of September, 1992.
   Pursuant to delegated authority.

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