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[¶12,240] In the Matter of Eduardo A. Godoy, 1st United Bank (f/k/a Advantage
Bank) Boca Raton, Florida, Docket No. 04-100e (7-14-04).
Respondent is prohibited from participating in the conduct of affairs
of, or exercising voting rights in, any insured institution without the
prior written approval of the FDIC.
[.1] Prohibition, Removal, or SuspensionProhibition FromParticipation in
Conduct of Affairs
[.2] Prohibition, Removal, or SuspensionProhibition FromVoting Rights,
exercise of
In the Matter of
EDUARDO A. GODOY
individually, and as an institution-affiliated party of
1st UNITED BANK (f/k/a/ ADVANTAGE BANK)
BOCA RATON, FLORIDA
(Insured State Nonmember Bank)
ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
FDIC-04-100e
Eduardo A. Godoy ("Respondent") has been advised of the
right to receive a NOTICE OF INTENTION TO PROHIBIT FROM FURTHER
PARTICIPATION ("NOTICE") issued by the Federal Deposit Insurance
Corporation ("FDIC") detailing the unsafe or unsound banking
practices for which an ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
("ORDER") may issue, and 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 308. Having
waived those rights, Respondent entered into a STIPULATION AND CONSENT
TO THE ISSUANCE OF AN ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
("CONSENT AGREEMENT") with a representative of the Legal Division
of the FDIC, whereby solely for the purpose of this proceeding and
without admitting or denying any unsafe or unsound banking practices,
Respondent consented to the issuance of an ORDER by the FDIC.
The FDIC considered the matter and determined it had reason to believe
that:
(a) Respondent has engaged or participated in unsafe or unsound
banking practices while an institution-affiliated party of 1st United
Bank, Boca Raton, Florida ("the Bank");
(b) by reason of such practices the Bank has suffered financial loss or
other damage and Respondent received financial gain or other benefit;
and
(c) such practices involve personal dishonesty on the part of
Respondent and demonstrate Respondent's willful disregard for the
safety or soundness of the Bank
The FDIC further determined that such practices demonstrate
Respondent's unfitness to serve as a director, officer, person
participating in the conduct of the affairs or as an
institution-affiliated party of the Bank, any other insured depository
institution, or any other agency or organization enumerated in section
8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A). The FDIC,
therefore, accepts the CONSENT AGREEMENT and issues the following:
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ORDER OF PROHIBITION FROM FURTHER PARTICIPATION
1. Eduardo A.. Godoy, Respondent, is hereby, without the prior
written approval of the FDIC and the 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:
[.1] (a) participating in any manner in the conduct of the affairs of any
financial institution or organization enumerated in section 8(e)(7)(A)
of the Act, 12 U.S.C. §1818(e)(7)(A);
[.2] (b) soliciting, procuring, transferring, attempting to transfer,
voting, or attempting to vote any proxy, consent or authorization with
respect to any voting rights in any financial institution enumerated in
section 8(e)(7)(A) of the Act, 12 U.S.C. §1818(e)(7)(A);
(c) violating any voting agreement previously approved by the
appropriate Federal banking agency; or
(d) voting for a director, or serving or acting as an
institution-affiliated party.
2. This ORDER will become effective upon its issuance by the FDIC.
The provisions of this ORDER will 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.
Pursuant to delegated authority.
Dated this 14th day of July, 2004.