Press Release

November 10, 2011 Federal Reserve Board issues consent orders of prohibition against Thomas B. Hebble and Angel Guerzon For immediate release Share The Federal Reserve Board on Thursday announced the issuance of Consent Orders of Prohibition against Thomas B. Hebble and Angel Guerzon, former senior officers and institution-affiliated parties of Orion Bank, Naples, Florida, a former state-member bank that failed in November 2009. Hebble and Guerzon consented to the issuance of the orders, which were based on their participation in unsafe and unsound practices, breaches of fiduciary duty, and violations of law and regulation that included their participation in a series of loan transactions to uncreditworthy borrowers. The transactions were designed to make it appear, falsely, that bad loans on Orion's books had been reduced and that the bank had raised $15 million in new capital. These transactions affected the integrity of the bank's financial statements, regulatory reports, and books and records. In addition to the Board's order, Hebble and Guerzon have each pleaded guilty to criminal conspiracy charges in connection with the fraudulent loan transactions. On October 25, 2011, they were each sentenced to prison terms by the United States District Court for the Middle District of Florida. For media inquiries, call 202-452-2955. Attachment Attachment

Federal Reserve (2011, November 9). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20111110_federal_reserve_board_issues_consent_orders_of

@misc{wtfs_press_release_20111110_federal_reserve_board_issues_consent_orders_of,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2011},
  month = {Nov},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20111110_federal_reserve_board_issues_consent_orders_of},
  note = {Retrieved via When the Fed Speaks corpus}
}