| For immediate release |
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The Federal Reserve Board on Thursday announced the issuance of an Order of Prohibition against Edward DeRosa, a former employee and institution-affiliated party of Rabobank Nederland, New York, New York. Mr. DeRosa, without admitting to any allegations, consented to the issuance of the Order based on his violations of law, unsafe and unsound practices, and breaches of his fiduciary duty to Rabobank and its customers in connection with his embezzlement of approximately $170,000 for his personal use.
A copy of the Order is attached. |