After 1974 guilty plea for pot distribution, man wins in December consent to work again at financial institution

After 43 years, a Virginia man has been granted his request to participate in the conduct of the affairs of any insured depository institution after being barred from doing so in 1974, when he pleaded guilty to distributing marijuana.

The Federal Deposit Insurance Corp. (FDIC) stated Friday in its report of December enforcement actions that it had approved a “Section 19” application from Peter D. Rohn for consent to participate directly or indirectly in the conduct of the affairs of any insured depository institution.

According to the FDIC report, Rohn entered a plea of guilty to three counts of distribution of marijuana on May 13, 1974, in violation of Virginia Code Ann. § 18.2-248.

In granting Rohn’s request, the deposit insurance agency noted that “43 years have elapsed since the offenses, and the Applicant has had no further convictions or program entries subject to Section 19” since then. “The FDIC finds that Applicant has demonstrated satisfactory evidence of rehabilitation,” the agency added.

The FDIC noted that it found that Rohn’s participation, “directly or indirectly, in the conduct of the affairs of any insured depository institution, in any position, would not pose a threat to the safety or soundness of any insured depository institution or the interests of depositors, nor would such participation threaten to impair public confidence in any insured depository institution.”

The only conditions imposed on Rohn in the order are that, prior to participating in the affairs of an insured depository institution, he must supply that institution with a copy of the FDIC’s order, and he must be covered by a fidelity bond “to the same extent as others with a similar position at that insured depository institution.”

The FDIC said it issued a total of 10 orders and two notices in December.  The administrative enforcement actions in those orders consisted of one consent order; two Section 19 orders (including Rohn’s); four removal and prohibition orders; two terminations of consent orders; one modification of a cease-and-desist order; and two notices.

FDIC Makes Public December Enforcement Actions

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