Federal Reserve Board issues enforcement actions

June 27, 2018 / Source: FRB

Press Release

June 26, 2018

Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of SmartBank

For release at 11:30 a.m. EDT

The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below:

Consent Order of Prohibition against Vasken Papazian, a former employee of East Cambridge Savings Bank, Cambridge, Massachusetts, for embezzling money from a bank customer.

Consent Order of Prohibition against Connie Clabo, a former employee of SmartBank, Pigeon Forge, Tennessee, for misappropriating funds from the bank through false statements and accounting entries.

Search of Federal Reserve enforcement actions.

For media inquiries, call 202-452-2955.

Attachment 1 (PDF)
Attachment 2 (PDF)

Last Update: June 26, 2018