Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of SmartBank

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Federal Reserve Board issues enforcement actions with former employee of East Cambridge Savings Bank and former employee of SmartBank

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The following press release was published by the Board of Governors of the Federal Reserve System on June 26, 2018. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the execution of the enforcement actions listed below: Consent Order of Prohibition against Vasken Papazian, a former employee of East Cambridge Savings Bank, Cambridge, Massachusetts, for embezzling money from a bank customer.

Consent Order of Prohibition against Connie Clabo, a former employee of SmartBank, Pigeon Forge, Tennessee, for misappropriating funds from the bank through false statements and accounting entries.

Search of Federal Reserve enforcement actions. For media inquiries, call 202-452-2955.

Source: Board of Governors of the Federal Reserve System

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