ALEXANDRIA, Va. — NCUA recently announced five orders of prohibition against former credit union employees, including one from Dover New Jersey Spanish American Federal Credit Union currently under a cease and desist order from the agency.
Yvis Rosario, former manager of Dover N.J. Spanish American FCU, was ordered by the court to participate in a Pretrial Intervention Program. The program offers rehabilitation to defendants, typically first-time offenders, in an effort to deter future criminal behavior, according to www.njcourtsonline.com. The court also ordered Rosario to pay $20,000 in restitution, undergo 36 months of supervised probation, and provide 50 hours of community service.
The credit union was hit with a cease and desist order for substantial Bank Secrecy Act violations earlier this year. Dover N. J. Spanish American FCU was originally chartered in 1970 to serve members of Our Lady Queen of the Most Holy Rosary Catholic Church and The Morris County Organization for Hispanic Affairs. The credit union continues serving approximately 4,000 members.
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In addition to Rosario, NCUA issued prohibition orders against former Pawtucket Credit Union Teller Nina Kizekai, former Capital Trust Federal Credit Union Lending and Financial Services Manager Lauretta Lipkin, former Capital Trust FCU official Adrea Swainey, and former Merho Federal Credit Union employee Valerie Saloney; these four agreed to the prohibition orders, without admitting or denying fault, to save the time and expense of litigation.
Violation of a prohibition order is a felony punishable by imprisonment and a fine of up to $1 million.
NCUA enforcement orders are online at http://www.ncua.gov/admin-istrative_orders/Admin/administrative.html.
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