A former Maryland banker is prohibited from participating in the banking industry, the Federal Reserve said Friday, for self-dealing in transactions and other violations of law.
The agency said that Jacob H. Goldstein, a former president and CEO of NBRS Financial in Rising Sun, Md., engaged in unsafe and unsound practices, committed violations of law, and breached his fiduciary duties to NBRS Financial, by engaging in self-dealing transactions involving bank loans and withholding material information from the NBRS board of directors.
“Goldstein did not respond to the Board’s notice of enforcement action, and its prohibition order was issued by default,” the Fed stated in a release.