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Board of Governors of the Federal Reserve System
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Press Release

Federal Reserve Press Release

Release Date: March 12, 2010

For immediate release

The Federal Reserve Board on Friday announced the issuance of a Final Decision and Order of Prohibition against Adam L. Benarroch, a former employee of Midwest Bank and Trust of Elmwood Park, Illinois ("Midwest"). This Order is the result of an action brought by the Board alleging that Mr. Benarroch fabricated documents, forged signatures, and altered loan agreements in his former position as Assistant Vice President and commercial lender at Midwest. As a result of the Order of Prohibition, Mr. Benarroch will be prohibited from participating in the conduct of the affairs of any financial institution or holding company.

Attached are the Board's Final Decision and Order relating to this action.

Final Decision (78 KB PDF)

Recommended Decision on Summary Disposition (154 KB PDF)

 
Last update: March 12, 2010