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{{3-31-97 p.C-4301}}
[¶11,378] In the Matter of Arthur T. Kraemer, Sheldon Volk, and Dennis H. Wollenzien, M&I Greater Milwaukee Bank, Milwaukee, Wis., now a branch of M&I Marshall & Illsley Bank, Milwaukee, Wis., Docket No. 96-126k (1-13-97)
Respondent agrees to pay civil money penalties assessed by FDIC.
In the Matter of
ARTHUR T. KRAEMER, SHELDON
VOLK
and DENNIS H. WOLLENZIEN,
individually, and as
institution-affiliated parties of
M&I GREATER MILWAUKEE BANK
MILWAUKEE, WISCONSIN
now a branch of
M&I Marshall & Illsley Bank
Milwaukee, Wisconsin
(Insured State Nonmember Bank)
ORDER TO PAY
FDIC-96-126k
Arthur T. Kraemer, Sheldon Volk, and Dennis H. Wollenzien ("Respondents") and a representative of the Legal Division of the
{{3-31-97 p.C-4302}}Federal Deposit Insurance Corporation ("FDIC") executed a Stipulation and Consent to the Issuance of an Order to Pay ("CONSENT AGREEMENT") dated October 21, 1996, whereby Respondents, solely for the purpose of this proceeding and without admitting or denying any breaches of fiduciary duty for which civil money penalties may be assessed, consented and agreed to pay civil money penalties in the amounts specified below to the Treasurer of the United States.
After taking into account the CONSENT AGREEMENT, the appropriateness of the penalty with respect to the financial resources and good faith of Respondents, the gravity of the breaches of fiduciary duty by the Respondents, the history of previous breaches of fiduciary duty by Respondents, and such other matters as justice may require, the FDIC accepts the CONSENT AGREEMENT and issues the following:
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the breaches of fiduciary duty set forth in paragraph 3 of the CONSENT AGREEMENT, a penalty of $1,000 be, and hereby is, assessed against Arthur T. Kraemer; a penalty of $1,000 be, and hereby is assessed against Sheldon Volk; and a penalty of $10,000 be, and hereby is, assessed against Dennis H. Wollenzien. The Respondents shall pay the civil money penalties to the Treasurer of the United States as of the effective date hereof.
IT IS FURTHER ORDERED, that Respondents are prohibited from seeking or accepting indemnification from any insured depository institution or insured depository institution holding company for the civil money penalties assessed and paid in this matter.
This Order to Pay shall be effective upon issuance.
Pursuant to delegated authority.
Dated at Washington, D.C., this 13th day of January, 1997.
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