[¶12,561] In the Matter of Sang Young Woo, Liberty Bank of New York, New York,
New York, Docket No. 03-068k (3-30-06).
Respondent agrees to pay civil money penalty assessed by the FDIC in
the amount of $1,000.
In the Matter of
SANG YOUNG WOO,
individually, and as an institution-affiliated party of
LIBERTY BANK OF NEW YORK NEW YORK, NEW YORK (Insured State Nonmember Bank)
ORDER TO PAY
SANG YOUNG WOO ("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 January 5, 2006, whereby
Respondent, solely for the purpose of this proceeding and without
admitting or denying any violation of law and regulation, unsafe or
unsound banking practice and/or breach of fiduciary duty for which
civil money penalties may be assessed, consented and agreed to pay
civil money penalties in the amount 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
Respondent, the gravity of the conduct by Respondent, the history of
previous conduct by Respondent, and such other matters as justice may
require, the FDIC accepts the CONSENT AGREEMENT and issues the
ORDER TO PAY
IT IS HEREBY ORDERED, that by reason of the unsafe or unsound
banking practices and/or breaches of fiduciary duty set forth in
paragraph 3 of the CONSENT AGREEMENT, a penalty of ONE THOUSAND DOLLARS
($1,000) be, and hereby is, assessed against SANG YOUNG WOO. The
Respondent shall pay the civil money penalty to the Treasurer of the
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 March, 2006.