Each depositor insured to at least $250,000 per insured bank



Home > Regulation & Examinations > Bank Examinations > FDIC Enforcement Decisions and Orders




FDIC Enforcement Decisions and Orders

ED&O Home | Search Form | Text Search | ED&O Help


{{5-31-95 p.C-3947}}
   [11,138] In the Matter of Roger R. Lussier, Lyndonville Savings Bank and Trust Company, Lyndonville, Vermont, Docket No. FDIC-94-204g (2-28-95).

   Respondent convicted of a federal criminal violation is prohibited from participating in the conduct of affairs of any insured institution without the prior consent of the FDIC.

   [.1] Prohibition—Felony Conviction

In the Matter of
ROGER R. LUSSIER, individually and
as an institution-affiliated
party of
LYNDONVILLE SAVINGS BANK
AND TRUST COMPANY

LYNDONVILLE,VERMONT
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM
FURTHER PARTICIPATION,
FINDINGS OF FACT AND
CONCLUSIONS OF LAW, AND
NOTICE OF HEARING

FDIC-94-204g

{{5-31-95 p.C-3948}}
   The Federal Deposit Insurance Corporation ("FDIC") is of the opinion that Roger R. Lussier ("Respondent"), an institution-affiliated party of Lyndonville Savings Bank and Trust Company, Lyndonville, Vermont ("Bank"), has been convicted of a criminal violation of 18 U.S.C. § 1957, and that section 8(g)(1)(C)(ii) of the Federal Deposit Insurance Act ("Act"), 12 U.S.C. § 1818(g) (1)(C)(ii), requires the FDIC, as the appropriate Federal banking agency for the Bank, to issue and serve upon the Respondent an order prohibiting the Respondent from further participation in any manner in the conduct of the affairs of the Bank without the prior written consent of the FDIC. Wherefore, the FDIC hereby issues this ORDER OF PROHIBITION FROM FURTHER PARTICIPATION, FINDINGS OF FACT AND CONCLUSIONS OF LAW, AND NOTICE OF HEARING ("ORDER"), pursuant to the provisions of sections 8(g)(1) and (g)(3) of the Act, 12 U.S.C. §¶ 1818(g)(1) and (g)(3). In support thereof, the FDIC finds and concludes as follows:

FINDINGS OF FACT AND CONCLUSIONS OF LAW

   1. The Bank is a corporation existing and doing business under the laws of the State of Vermont, having its principal place of business of Lyndonville, Vermont. The Bank is and was, at all times pertinent to this proceeding, an insured State nonmember bank subject to the Act, 12 U.S.C. §¶ 1811–1831t, the Rules and Regulations of the FDIC, 12 C.F.R. Chapter III, and the laws of the State of Vermont.
   2. Roger R. Lussier was, at all times pertinent to this proceeding, president of the Bank, chairman of the Bank's board of directors, and an institution-affiliated party of the Bank.
   3. The FDIC has jurisdiction over the Bank, the Respondent, and the subject matter of this proceeding.
   4. On December 22, 1993, a judgment of conviction was entered against the Respondent by the United States District Court for the District of Vermont regarding a criminal violation of 18 U.S.C. § 1957.
   5. By virtue of the facts stated above, the FDIC concludes that an order must be issued pursuant to section 8(g)(1)(C)(ii) of the Act, 12 U.S.C. § 1818(g)(1)(C)(ii), prohibiting Respondent from further participation in the conduct of the affairs of the Bank, and any other insured depository institution, agency or organization enumerated in section 8(e)(7) of the Act, 12 U.S.C. § 1818(e) (7), without the prior written consent of the FDIC and any other appropriate Federal financial institutions regulatory agency.

PROHIBITION ORDER

   [.1] Based upon the above findings, it is ORDERED, that Respondent Roger R. Lussier be, and hereby is, without the prior written consent of the FDIC and any other appropriate Federal financial institutions regulatory agency, as that term is defined in section 8(e)(7)(D) of the Act, 12 U.S.C. § 1818(e)(7)(D), prohibited from further participation in any manner in the conduct of the affairs of the Bank, and may not continue or commence to hold any office in, or participate in any manner in, the conduct of the affairs of:
   (a) any insured depository institution;
   (b) any institution treated as an insured bank;
   (c) any insured credit union under the Federal Credit Union Act;
   (d) any institution chartered under the Farm Credit Act of 1971;
   (e) any appropriate Federal depository institution regulatory agency; and
   (f) the Resolution Trust Corporation;
as provided in section 8(e)(7)(A) of the Act, 12 U.S.C. § 1818(e)(7)(A).
   FURTHER ORDERED, that within thirty (30) days after the date of receipt of the ORDER, the Respondent may request in writing an opportunity to appear before the FDIC, pursuant to section 8(g)(3) of the Act, 12 U.S.C. § 1818(g)(3). If the Respondent fails to file a request for a hearing, this ORDER shall be final and unreviewable.

NOTICE OF HEARING

   FURTHER ORDERED, that if the Respondent requests a hearing, the FDIC will fix a time and place for a hearing not later than 30 days from receipt of the request. At any hearing, the Respondent may appear, personally or through counsel, to submit written materials and oral argument. Oral testimony may be taken at the discretion of the FDIC, as provided in section 8(g)(3) of the Act, 12 U.S.C. § 1818(g)(3).
   An original and one copy of all papers filed in this proceeding shall be served upon the FDIC's Office of the Executive Secretary, 550 17th Street, N.W., Washington, D.C. 20429. Also, copies of all papers filed in this proceeding shall be served upon Arthur L.
{{5-31-95 p.C-3949}}
Beamon, Associate General Counsel, Compliance and Enforcement Section, Legal Division, 550 17th Street, N.W., Washington, D.C. 20429, and upon Thomas W. Lawless Jr., Regional Counsel (Supervision), Boston Regional Office, Westwood Executive Center, 200 Lowder Brook Drive, Westwood, Massachusetts 02090.
   This ORDER shall become effective on the date of service thereof.
   The provisions of the 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 Washington, D.C., this 28th day of February, 1995.
   By direction of the Board of Directors.

ED&O Home | Search Form | Text Search | ED&O Help

Last Updated 6/6/2003 legal@fdic.gov