Professional Qualifications

Curriculum Vitae for Phillip Brandt, SCGREA PROFESSIONAL EXPERIENCE & LICENSING Actively engaged in real estate valuation and consultation since 2009 with experience in all property types including residential, commercial and industrial. Phillip is a University of Maryland graduate and holds the State Certified General Real Estate Appraiser license. State Certified General Real Estate Appraiser in the State of NJ (#42RG00258700) State Certified General Real Estate Appraiser in the State of NY (#46000052967) Candidate for Designation, Appraisal Institute Senior Staff Appraiser – Otteau Group, Inc. PRIMARY EDUCATION University of Maryland (1990) Bachelor of Arts Degree PROFESSIONAL EDUCATION Uniform Standards of Professional Appraisal General Appraiser Report Writing & Case Studies Practice Appraisal Principles Real Estate Finance, Statistics &Valuation Modeling Appraisal Procedures General Market Analysis and Highest & Best Use Commercial Appraisal Review General Appraiser Sales Comparison Approach Expert Witness for Commercial Appraisals General Appraiser Site Valuation & Cost Approach Business Practices and Ethics General Appraiser Income Approach/Part 1 Appraisal of Self-Storage Facilities General Appraiser Income Approach/Part 2 APPRAISAL SERVICES PERFORMED FOR THE FOLLOWING CLIENTS: Amalgamated Bank Jamie Pavlis Real Estate, Inc. Amboy Bank JP Morgan Chase Apple Bank M&T Bank Bank of America Magyar Bank Bank of China Mariner's Bank Bank of Princeton New York Community Bancorp, Inc. BankUnited New York Community Bancorp. Inc, Barclays Capital PLC OceanFirst Bank Beaconville LLC PNC Bank Bethpage Federal Credit Union Popular Community Bank Capital One Bank, N.A. Savoy Bank Cathay Bank Shanghai Commercial Bank Ltd. Citibank Signature Bank Doral Bank FSB Sterling National Bank First Bank of NJ TD Bank, N.A. First Hope Bank The Bank of East Asia Flushing Bank UBS Real Estate Securities, Inc. Freedom Bank United Commercial Bank Fulton Bank Unity Bank HSBC OTTEAU GROUP, INC. .

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Causes and Consequences of Recent Bank Failures
United States Government Accountability Office Report to Congressional Committees GAO January 2013 FINANCIAL INSTITUTIONS Causes and Consequences of Recent Bank Failures GAO-13-71 January 2013 FINANCIAL INSTITUTIONS Causes and Consequences of Recent Bank Failures Highlights of GAO-13-71, a report to congressional committees Why GAO Did This Study What GAO Found Between January 2008 and December Ten states concentrated in the western, midwestern, and southeastern United 2011—a period of economic downturn States—all areas where the housing market had experienced strong growth in in the United States—414 insured the prior decade—experienced 10 or more commercial bank or thrift (bank) U.S. banks failed. Of these, 85 percent failures between 2008 and 2011 (see below). The failures of the smaller banks or 353 had less than $1 billion in (those with less than $1 billion in assets) in these states were largely driven by assets. These small banks often credit losses on commercial real estate (CRE) loans. The failed banks also had specialize in small business lending often pursued aggressive growth strategies using nontraditional, riskier funding and are associated with local sources and exhibited weak underwriting and credit administration practices. The community development and rapid growth of CRE portfolios led to high concentrations that increased the philanthropy. These small bank failures banks’ exposure to the sustained real estate and economic downturn that began have raised questions about the contributing factors in the states with in 2007. GAO’s econometric model revealed that CRE concentrations and the the most failures, including the use of brokered deposits, a funding source carrying higher risk than core possible role of local market conditions deposits, were associated with an increased likelihood of failure for banks across and the application of fair value all states during the period.
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Kyung Cho, Et Al. V. UCBH Holdings, Inc., Et Al. 09-CV-04208
Case3:09-cv-04208-JSW Document217 Filed01/09/12 Page1 of 81 1 Laurence M. Rosen, Esq. (CSB# 219683) THE ROSEN LAW FIRM, P.A. 2 355 South Grand Avenue, Suite 2450 Los Angeles, CA 90071 3 Tel: (213) 785-2610 Fax: (213) 226-4684 4 Email: [email protected] 5 -and- 6 Phillip Kim, Esq. (pro hac vice) THE ROSEN LAW FIRM, P.A. 7 275 Madison Avenue, 34th Floor New York, New York 10016 8 Telephone: (212) 686-1060 Facsimile: (212) 202-3827 9 Email: [email protected] 10 Lead Counsel for Plaintiffs and Class 11 IN THE UNITED STATES DISTRICT COURT 12 NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION 13 14 Case No.: CV-09-4208-JSW KYUNG CHO; REX DECHAKUL; AND CV-09-4429-JSW 15 CV-09-4449-JSW DAVID HWANG, INDIVIDUALLY AND CV-09-4513-JSW 16 ON BEHALF OF ALL OTHERS CV-09-4505-JSW SIMILARLY SITUATED, 17 CONSOLIDATED THIRD AMENDED Plaintiffs, COMPLAINT FOR VIOLATIONS OF 18 THE FEDERAL SECURITIES LAWS vs. 19 CLASS ACTION 20 UCBH HOLDINGS, INC.; THOMAS S. WU; THOMAS YU; EBRAHIM SHABUDIN; JURY TRIAL DEMANDED 21 CRAIG ON; DENNIS WU; ROBERT Hon. Jeffrey S. White 22 NAGEL; JOHN M. KERR; DANIEL M. GAUTSCH; DOUGLAS MITCHELL; 23 BURTON D. THOMPSON; JOHN CINDEREY; JOSEPH J. JOU; PIN PIN 24 CHAU; LI-LIN KO; QINGYUAN WAN; 25 GODWIN WONG; DAVID NG; DANIEL P. RILEY; RICHARD LI-CHUNG WANG; and 26 JOHN DOES 1-10, 27 Defendants. 28 1 CONSOLIDATED THIRD AMENDED COMPLAINT FOR VIOLATIONS OF THE FEDERAL SECURITIES LAWS-- Case no. CV-09-4208-JSW Case3:09-cv-04208-JSW Document217 Filed01/09/12 Page2 of 81 1 2 Lead Plaintiff Kyung Cho and named plaintiffs Rex DeChakul and David Hwa 3 (collectively the “Plaintiffs”) individually and on behalf of all other persons similarly situated, 4 their undersigned attorneys, allege in this Consolidated Second Amended Complaint ( 5 “Complaint”) the following upon knowledge with respect to their own acts, and upon 6 obtained through an investigation conducted by their counsel.
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General Banking Activities”
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by BRAC University Institutional Repository Internship Report On “GENERAL BANKING ACTIVITIES” Of United Commercial Bank (Mirpur Road Branch) SUBMITTED TO Feihan Ahsan Lecturer Brac University SUPERVISED BY Amalendu Roy Branch Manager United Commercial Bank Limited SUBMITTED BY Humayra Haseen ID – 11304020 Major: Human Resource Management Minor: Finance LETTER OF TRANSMITTAL Date: 08.09.2015 To Feihan Ahsan Lecturer Brac University Through Amalendu Roy Branch Manager United Commercial Bank Limited Subject: Submission of Internship Report Dear Sir, It was a privilege and great pleasure for me to submit my internship report titled “GENERAL BANKING ACTIVITIES OF UCBL” that has been prepared as an essential part of my degree requirement. As you know, I had completed my internship in Mirpur branch of United Commercial Bank Limited which I got the chance to prepare my internship report on the above topic. While preparing this report I went through broad literature assessment and discussed with high bank officials. Surely ahead of any doubt it improves my understanding and also builds up my learning skill. I hope to meet your expectation from this report. I would be obliged to receive your propositions and remarks regarding this. Sincerely Yours Humayra Haseen ID – 11304020 Major: Human Resource Management Minor: Finance Department of Business Administration i STUDENT’S DECLARATION I, Humayra Haseen, student of Business Administration, Brac University, hereby state that the report offered in the name “GENERAL BANKING ACTIVITIES OF UCBL” Mirpur Road Branch, Dhanmondi, Dhaka, has been prepared and carried by me under the supervision of Amalendu Roy, Branch manager, United Commercial Bank Limited.
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Investor Presentation
Company Profile and Investment Overview East West Bancorp | Nasdaq: EWBC December 31, 2014 Safe Harbor Statement This presentation may include forward-looking statements that involve inherent risks and uncertainties. East West Bancorp, Inc. cautions readers that a number of important factors could cause actual results to differ materially from those in any forward-looking statements. These factors include economic conditions and competition in the geographic and business areas in which East West Bancorp and its subsidiaries operate, inflation or deflation, fluctuation in interest rates, legislation and governmental regulations, investigation of acquired banks and other factors discussed in the company’s filings with the SEC. 2 Our Vision To be recognized as the Premier Bridge between East and West, and acknowledged for delivering relationship driven financial solutions to an increasingly diverse and sophisticated customer base. 3 East West Today* • Headquartered in Pasadena, California, East West Bank is a commercial bank with focus on the U.S. and Greater China markets • Market Capitalization of $5.74 Billion › 24th Largest Market Capitalization in the U.S. for Public Banks • Total Assets of $28.7 Billion › 30th Largest Public Bank in the U.S. by Assets › 2nd Largest Independent Bank Headquartered in Southern California • Ranked in the Top 20 of the 100 Best Banks in America by Forbes in 2014 for the fifth consecutive year • Over 130 Locations Worldwide • Five Full Service Branches in Greater China • 2,700 Employees *Market capitalization is as of February 27, 2015. Financial information as of most recently reported figures, December 31, 2014. 4 Top 25 Banks by Market Capitalization Market Capitalization Market Capitalization at 2/27/15 at 2/27/15 Rank Company (in billions) Rank Company (in billions) 1 Wells Fargo & Company $282.29 14 M&T Bank Corporation $16.08 2 JPMorgan Chase & Co.
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Minority Banks in New York City: Is the Community Reinvestment Act Relevant?
Journal of Civil Rights and Economic Development Volume 25 Issue 3 Volume 25, Spring 2011, Issue 3 Article 4 Minority Banks in New York City: Is the Community Reinvestment Act Relevant? Tarry Hum Follow this and additional works at: https://scholarship.law.stjohns.edu/jcred This Article is brought to you for free and open access by the Journals at St. John's Law Scholarship Repository. It has been accepted for inclusion in Journal of Civil Rights and Economic Development by an authorized editor of St. John's Law Scholarship Repository. For more information, please contact [email protected]. MINORITY BANKS IN NEW YORK CITY: IS THE COMMUNITY REINVESTMENT ACT RELEVANT? TARRY HUM, PH.D.* INTRODUCTION The United States has a long history of minority banks formed to meet the credit needs of populations excluded from mainstream financial institutions. Minority banks continue to be a prominent part of locally- based economic landscapes, but their record in individual asset building (e.g., homeownership) and community economic development is uneven at best. A recent example is Massachusetts-based OneUnited Bank, established by African Americans to underwrite the revitalization of urban poor neighborhoods. A long time advocate of minority banks, Congresswoman Maxine Waters is now a focus of a Congressional ethics committee inquiry on charges that she used her influence to arrange a meeting between OneUnited Bank representatives and US Treasury Department officials. While the media has covered extensively Congresswoman Waters' close personal ties to OneUnited Bank, what may be of greater consequence for African American communities is the nominal number of bank loans for community improvement.' In addition to an uneven role in community development, the demographic composition of minority banks has transformed in the past decades.
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Investor Presentation November 2017
Investor Presentation November 2017 NASDAQ: RBB Forward‐Looking Statements Certain matters set forth herein (including the exhibits hereto) constitute forward‐looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including forward‐looking statements relating to the Company’s current business plans and expectations and our future financial position and operating results. These forward‐looking statements are subject to risks and uncertainties that could cause actual results, performance and/or achievements to differ materially from those projected. These risks and uncertainties include, but are not limited to, local, regional, national and international economic and market conditions and events and the impact they may have on us, our customers and our assets and liabilities; our ability to attract deposits and other sources of funding or liquidity; supply and demand for real estate and periodic deterioration in real estate prices and/or values in California or other states where we lend, including both residential and commercial real estate; a prolonged slowdown or decline in real estate construction, sales or leasing activities; changes in the financial performance and/or condition of our borrowers, depositors or key vendors or counterparties; changes in our levels of delinquent loans, nonperforming assets, allowance for loan losses and charge‐offs; the costs or effects of acquisitions or dispositions we may make, whether we are able to obtain any required governmental approvals in connection with
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2008 – December
DEPARTMENT OF FINANCIAL INSTITUTIONS SUMMARY OF PENDING APPLICATIONS AS OF DECEMBER 2008 APPLICATION TYPE PAGE NO. BANK APPLICATION NEW BANK 1 ACQUISITION OF CONTROL 2 CONVERSION TO STATE CHARTER 3 NEW BRANCH 3 NEW PLACE OF BUSINESS 8 NEW EXTENSION OFFICE 10 HEAD OFFICE RELOCATION 10 HEAD OFFICE REDESIGNATION 11 BRANCH OFFICE RELOCATION 11 PLACE OF BUSINESS RELOCATION 13 DISCONTINUANCE OF BRANCH OFFICE 13 DISCONTINUANCE OF PLACE OF BUSINESS 15 APPLICATION PURSUANT TO SECTION 772 16 INDUSTRIAL BANK APPLICATION CONVERSION TO STATE CHARTER 16 ACQUISITION OF CONTROL 16 NEW BRANCH 17 HEAD OFFICE RELOCATION 17 DISCONTINUANCE OF BRANCH 17 DISCONTINUANCE OF PLACE OF BUSINESS 17 CHANGE OF NAME 18 PREMIUM FINANCE COMPANY APPLICATION NEW PREMIUM FINANCE COMPANY 18 ACQUISITION OF CONTROL 19 MAIN OFFICE RELOCATION 20 FOREIGN (OTHER NATION) BANK APPLICATION NEW OFFICE 20 DISCONTINUANCE 20 FOREIGN (OTHER STATE) BANK APPLICATION NEW FACILITY 21 CREDIT UNION APPLICATION NEW CREDIT UNION 22 MERGER 22 NEW BRANCH OF FOREIGN (OTHER STATE) CREDIT UNION 23 TRANSMITTER OF MONEY ABROAD APPLICATION NEW TRANSMITTER 23 ACQUISITION OF CONTROL 23 VOLUNTARY SURRENDER OF LICENSE 24 1 BANK APPLICATION NEW BANK Filed: 2 Approved: 4 Opened: 1 AMERICAN CEDARS BANK 500 North Central Avenue, Glendale, Los Angeles County Correspondent: David E. Abshier LECG 550 South Hope Street, Suite 2150 Los Angeles, CA 90071 (213) 243-3700 Filed: 9/28/07 EL CAMINO BANK 20946 Devonshire Street, Chatsworth, Los Angeles County Correspondent: James H. Avery The Avery Company LLC P.O. Box 3009 San Luis Obispo, CA 93403 (805) 544-5477 Filed: 5/9/08 FORD GROUP BANK 3501 Jamboree Road, Newport Beach, Orange County Correspondent: Charles E.
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A Comparison of Korean and Chinese American Banks in California*
한국지역지리학회지 제12 권 제 1 호 (2006) 154-171 The Financial Development of Korean Americans: A Comparison of Korean and Chinese American Banks in California* Hyeon-Hyo Ahn**, Yun-Sun Chung*** 미국에서의 한인 금융: 캘리포니아에서 한국계와 중국계 은행의 비교* 안현효**․ 정연선 *** 요약：본 논문은 캘리포니아의 중국계와 한국계의 양 소수민족은행을 비교하여 한국계 민족은행과 한국계 이민사회의 경제적 관계를 해명하고자 한다. 통상 미국 내 소수민족경제권의 경제적 성과 차이는 문화적 차이 또는 비공식금융의 기여로 설명되는 경우가 많으나 우리는 공식금융제도의 적극적 역할에 주목하여 금융제도와 소수민족경제의 관련성을 강조한다.,, 동시에 한국계 미국은행은 성장 수익성 은행전략 면에서 중국계 소수민족은행과 구분된다는 점을 중시하여, 은행전략 측면에서, 중국계와 한국계가 고객과의 장기적 거래를 중시하는 유사한 관계은행전략을 구사하지만, 은행의 대출분포와 예금분포는 서로 다르다는 점을 지적하였다. 이는 각 소수민족은행이 다른 경영성과를 낳는 이유가 된다. 한국계은행의 경우 대출구조가 사업대출 중심이며, 이자 낳지 않는 예금의 비중이 중국계 민족은행보다 상대적으로 높 은 사실이 한국계 소수민족은행이 높은 성장을 하게 된 배경이다. 따라서 관계은행전략이라는 개념만으로는 다수의 소 수민족은행의 차이를 설명할 수 없으므로, 본 연구는 한국계와 중국계의 이민사회 그 자체의 특수성에 주목하였다. 중 국계 미국인의 경우 인구구성의 이질성과 해외자본의 영향이, 한국계 미국인의 경우 동질적 인구 및 사업구성과 착 한 국계 미국인 금융기관의 경쟁력이 특징적이다. 주요어：소수민족은행, 한국계 미국은행 , 중국계 미국은행 , 관계은행 Abstract ：By comparing to Chinese American banks, this research shows the uniqueness of Korean American banks. This article argues that instead of the cultural attributes and/or informal financial institutions, formal financial institutions, such as the ethnic banks studied here, are responsible for the business success of Asians abroad. However, ethnic banks have different development trajectories depending on their respective ethnic communities. Korean American banks are notably different from Chinese American banks in terms of growth, profitability, and banking strategies.
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A Year of Growth Focus and Discipline Were Our Guiding Principles During 2001, Providing the Strategic Cornerstones for a Year of Extraordinary Achievement
2001 Annual Report A Year of Growth Focus and discipline were our guiding principles during 2001, providing the strategic cornerstones for a year of extraordinary achievement. Our unwavering focus on the ethnic Chinese market and the development of enduring customer relationships, as well as our commitment to attentive and consistent client service, continue to be the foundation upon which we build our business. TABLE OF CONTENTS Financial Highlights 2 September 11, 2001 4 Letter to Fellow Shareholders 5 An Overview of 2001 8 Financial Statements 17 Corporate and Shareholder Information 69 Branch Office Locations 70 UCBH HOLDINGS, INC. FINANCIAL HIGHLIGHTS Company Profile UCBH Holdings, Inc. is the holding company for United Commercial Bank (UCB), a mid-sized financial institution with 31 offices located in the San Francisco Bay Area, Sacramento, Stockton, and Greater Los Angeles, and with a representative office in Hong Kong. The leading California bank serving the ethnic Chinese community, UCB provides a wide range of consumer banking services to individuals, and commer- cial banking services to small- and medium-sized businesses and professionals in a variety of industries. Net Income Core Deposits Loans dollars in thousands dollars in thousands dollars in thousands $30,488 $877,073 $2,264,303 $1,931,822 $24,128 $632,290 $1,686,695 $19,068 $458,133 1999 2000 2001 1999 2000 2001 1999 2000 2001 2 UCBH HOLDINGS, INC. FINANCIAL HIGHLIGHTS (dollars in thousands, except for earnings per share data) At, or for, the year ended December 31,
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Department of Financial Institutions
DEPARTMENT OF FINANCIAL INSTITUTIONS SUMMARY OF PENDING APPLICATIONS AS OF NOVEMBER 2004 APPLICATION TYPE PAGE NO. BANK APPLICATION NEW BANK 1 CONVERSION TO STATE CHARTER 4 CONVERSION TO NATIONAL BANK 4 MERGER 5 NEW BRANCH 6 NEW PLACE OF BUSINESS 12 NEW EXTENSION OFFICE 15 HEAD OFFICE RELOCATION 15 BRANCH OFFICE RELOCATION 15 PLACE OF BUSINESS RELOCATION 17 EXTENSION OFFICE RELOCATION 17 DISCONTINUANCE OF BRANCH OFFICE 17 DISCONTINUANCE OF PLACE OF BUSINESS 18 CHANGE OF NAME 19 INDUSTRIAL BANK APPLICATION PURCHASE OF PARTIAL BUSINESS UNIT 20 NEW BRANCH 20 NEW PLACE OF BUSINESS 20 MERGER 21 BRANCH OFFICE RELOCATION 21 PLACE OF BUSINESS RELOCATION 21 PREMIUM FINANCE COMPANY APPLICATION NEW PREMIUM FINANCE COMPANY 22 ACQUISITION OF CONTROL 23 RELOCATION 23 CHANGE OF NAME 24 FOREIGN (OTHER NATION) BANK APPLICATION NEW OFFICE 24 FOREIGN (OTHER STATE) BANK APPLICATION NEW FACILITY 24 RELOCATION 25 CREDIT UNION APPLICATION CONVERSION TO STATE CHARTER 26 MERGER 26 NEW BRANCH OF FOREIGN (OTHER STATE) CREDIT UNION 26 CHANGE OF NAME 27 TRANSMITTER OF MONEY ABROAD APPLICATION NEW TRANSMITTER 27 ACQUISITION OF CONTROL 28 PAYMENT INSTRUMENT APPLICATION ii NEW PAYMENT INSTRUMENT 28 1 BANK APPLICATION NEW BANK Filed: 6 Approved: 8 CALIFORNIA UNITED BANK 15821 Ventura Boulevard, Suite 100, Encino, Los Angeles County Correspondent: Grace Wickersham Carpenter & Company 5 Park Plaza, Suite 950 Irvine, CA 92614 (949) 261-8888 Filed: 7/26/04 Approved: 9/23/04 CHARTER OAK BANK (Former name: WINE COUNTRY BANK) 1739 Trancas Street, Napa, Napa County Correspondent:
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Hong Kong Special Administrative Region of the People’S Republic of China
HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA GOVERNMENT BOND PROGRAMME Institutional Bond Issuance Programme List of Primary Dealers (as at 31 March 2010) 1. Bank of China (Hong Kong) Limited 2. BNP Paribas, Hong Kong 3. Citibank N.A. 4. Crédit Agricole Corporate and Investment Bank 5. DBS Bank (Hong Kong) Limited 6. Deutsche Bank Aktiengesellschaft 7. Hang Seng Bank Limited 8. Hongkong and Shanghai Banking Corporation Limited 9. Royal Bank of Scotland plc, Hong Kong (The) 10. Societe Generale 11. Standard Chartered Bank (Hong Kong) Limited 12. UBS AG, Hong Kong List of Recognized Dealers (as at 31 March 2010) 1. ABN AMRO Bank N.V. 2. Agricultural Bank of China Limited 3. Allahabad Bank 4. Allied Banking Corporation (Hong Kong) Limited 5. Australia and New Zealand Banking Group Limited 6. Axis Bank Limited 7. Banco Bilbao Vizcaya Argentaria, S.A. 8. Banco de Oro Unibank, Inc. 9. Banco Santander, S.A. 10. Bangkok Bank Public Company Limited 11. Bank of America, National Association 12. Bank of Baroda 13. Bank of China (Hong Kong) Limited 14. Bank of China International Limited 15. Bank of Communications Company, Limited 16. Bank of East Asia, Limited (The) 17. Bank of India 18. Bank of Nova Scotia (The) 19. Bank of Taiwan 20. Bank of Tokyo-Mitsubishi UFJ, Limited (The) 21. Bank SinoPac, Hong Kong Branch 22. Barclays Bank plc 23. BNP Paribas, Hong Kong 24. Cathay Bank 25. Cathay United Bank Company, Limited 26. Chang Hwa Commercial Bank, Limited 27. Chiba Bank, Limited (The) 28. China Construction Bank (Asia) Corporation Limited 29.
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Former United Commercial Bank Chief Credit Officer Sentenced to Over Eight Years in Federal Prison for Felony Fraud Conviction
FOR IMMEDIATE RELEASE Media Inquiries: 202-927-8940 Tuesday, September 1, 2015 Twitter: @SIGTARP Web: www.SIGTARP.gov FORMER UNITED COMMERCIAL BANK CHIEF CREDIT OFFICER SENTENCED TO OVER EIGHT YEARS IN FEDERAL PRISON FOR FELONY FRAUD CONVICTION Securities Fraud Resulted in over $300 Million TARP Loss to Taxpayers WASHINGTON, DC - Ebrahim Shabudin was sentenced today to 97 months in federal prison for his role in a securities fraud scheme and other corporate fraud offenses stemming from the failure of United Commercial Bank, announced Christy Goldsmith Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), Melinda Haag, U.S. Attorney for the Northern District of California, Fred W. Gibson, Jr., Acting Inspector General for the Federal Deposit Insurance Corporation, Mark Bialek, Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau, and David J. Johnson, FBI Special Agent in Charge. The sentencing brings to a close one of the most significant prosecutions to arise out of the 2008 financial crisis. Shabudin, 66, of Moraga, Calif., was the chief operating officer and chief credit officer at UCB in 2008 and 2009. Shabudin was the second most senior officer in executive management at UCB after former chief executive officer Thomas Shiu-Kit (“Tommy”) Wu. “This is the most significant prosecution for crimes arising out of the bailout,” said Christy Goldsmith Romero, Special Inspector General for TARP (SIGTARP). “Like many bankers during the financial crisis, this senior officer of a TARP bank faced defaulting loans and declining collateral, but unlike others, Ebrahim Shabudin deliberately turned to crime to deceive, and now he will spend the next eight years in federal prison.
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