FDIC Inspector General Gaston L. Gianni, Jr. announced
today that a former FDIC employee, Douglas Peklo of Woodbury,
CT, was indicted March 17 on three counts of embezzling and
laundering $138,500 in FDIC funds while with the agency.
Peklo was employed in the South Brunswick, NJ, office as
a liquidation specialist who managed and sold assets the FDIC
acquired from failed banks. One such asset was "The Moorings," a
marina in Point Pleasant, NJ. The marina was posted as collateral
for a loan made by a failed bank taken over by the FDIC. The
borrowers defaulted on the loan, and the FDIC acquired the
According to the indictment, several months before the
bank closed, a fire sprinkler discharged in the marina's restaurant
causing extensive damage. Peklo, acting for the FDIC, settled the
insurance claim net of expenses for $138,500 while the marina was
being prepared for sale by the FDIC. He allegedly forwarded the
settlement check to an attorney in Georgia, described as Peklo's
business partner, who deposited the check into his escrow account
and wired the money back to a Washington, D.C., bank account
held by Telcontrol, a corporation owned by Peklo. The indictment
states that Peklo withdrew the money from this account over the
next several months.
If convicted on all three counts, Peklo faces up to 30 years
in prison and more than $552,000 in fines.
An indictment is merely an accusation. The defendant is
presumed innocent unless proven guilty.
This case was investigated by the FDIC's Office of
Inspector General and the U.S. Postal Inspection Service. The
Government is represented by Assistant United States Attorney
James F. McMahon, of the U.S. Attorney's Fraud and Public
Protection Division in Newark.
Congress created the Federal Deposit Insurance Corporation in 1933 to restore
public confidence in the nation's banking system. The FDIC insures deposits
at the nation's 11,452 banks and savings associations and it promotes the
safety and soundness of these institutions by identifying, monitoring and
addressing risks to which they are exposed.
FDIC press releases and other information are available on the Internet via
the World Wide Web at www.fdic.gov and
may also be obtained through the
FDIC's Public Information Center (800-276-6003 or (703) 562-2200).