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Retraction and apology
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[JAN. 5, 2006]
On Dec. 27, 2005, the
Lincoln Daily News reported that the Office of the Comptroller of
the Currency assessed civil money penalties against the following
directors of First National Bank of Mount Pulaski: Kenneth R. Brooker, Joseph W. Lucas, J. Gene Schmidt and Julian Wubben. In our
article, we inaccurately reported that the OCC only assesses civil
money penalties against individuals who profit from illegal or
unethical activities and that such penalties are usually equal to
the gains made from whatever activity is deemed to be illegal or
unethical.
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We have since learned that: (i) the OCC
may impose civil money penalties against bank directors for a
variety of reasons that do not include illegal or unethical
activities; (ii) the OCC Consent Orders assessing the penalties
against those individuals make no reference to profit or gain from
illegal or unethical activities; and (iii) the individuals entered
into the Consent Orders with the OCC in the interest of cooperation
and to avoid the costs associated with future proceedings, without
admitting or denying any wrongdoing.
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We sincerely apologize to Messrs. Brooker, Lucas,
Schmidt and Wubben that our Dec. 27 article was erroneous and that
the article made it appear that they had engaged in illegal or
unethical conduct.
We strongly apologize to each of those individuals
that our Dec. 27 article made it appear otherwise than the
facts of the matter.
[Jan
Youngquist, managing editor] |
