| For immediate release |
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The Federal Reserve Board today announced the issuance of an Order of Prohibition against Lawrence Michaelessi, a former employee and institution-affiliated party of the Rochester Branch of The Bank of New York, New York, New York. Mr. Michaelessi, without admitting to any allegations, consented to the issuance of the Order based on his apparent unsafe and unsound practices and violations of law in connection with his embezzlement of funds from The Bank of New York. A copy of the Order is attached. |