{{10-31-01 p.C-5189}}
[¶11,829] In the Matter of Steven E. Flahaven, Brickyard Bank, Lincolnwood,
Illinois, Docket No. 00-109k (8-30-01)
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $55,000.
In the Matter of
STEVEN E. FLAHAVEN,
individually, and as an
institution-affiliated
party of
BRICKYARD BANK
LINCOLNWOOD, ILLINOIS
(Insured State Nonmember Bank)
ORDER TO PAY
CIVIL MONEY
PENALTY
FDIC-00-109k
Steven E. Flahaven ("Respondent") and a representative of
the Legal Division of the Federal Deposit Insurance Corporation
("FDIC") executed a Stipulation and consent to the Issuance of an
Order to Pay ("CONSENT AGREEMENT") dated November 6, 2000,
whereby Respondent, solely for the purpose of this proceeding and
without admitting or denying any violation of law or breaches of
fiduciary duty for which civil money penalties may be assessed,
consented and agreed to pay a civil money penalty in the amount
specified below to the Treasury 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
Respondent, the gravity of the alleged violations and breaches of
fiduciary duty by Respondent, the history of previous violations by
Respondent, 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 alleged violations and
breaches of fiduciary duty set forth in paragraph 3 of the CONSENT
AGREEMENT, a penalty of $55,000 be, and hereby is, assessed against the
Respondent. The Respondent shall pay the civil money penalty to the
Treasury of the United States.
IT IS FURTHER ORDERED, that the Respondent is prohibited from seeking
or accepting indemnification from any insured depository institution
for the civil money penalty 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 30th day of August, 2001.