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FORMER CONNECTICUT THRIFT OFFICERS CONSENT TO $5 MILLION RESTITUTION AND PROHIBITION

 WASHINGTON, April 28 /PRNewswire/ -- Three former officers of a Connecticut thrift institution have consented to cease and desist orders for restitution totaling $5 million and are banned from the banking industry, Office of Thrift Supervision (OTS) announced today.
 They are Richard Barbieri Sr., former president and director of Security Savings and Loan Association, Waterbury, Conn.; John Corpaci, former executive vice president; and Barbieri's son, Richard Jr., former vice president. The settlement with the senior Barbieri was made jointly by OTS and the Office of the Comptroller of the Currency (OCC). The OCC's participation involved Barbieri's role in the Penta Group in Connecticut which includes national banks as well as Security.
 In June 1992, OTS charged the Barbieris, Corpaci, three other former Security officials and a former counsel to Security with acts of fraud and hiding insider loans and other misconduct at Security.
 Without admitting or denying any of the allegations, the three individually consented to the OTS orders. Barbieri Sr. has agreed to pay $3.1 million restitution; Corpaci, $1.6 million; and Barbieri Jr., $300,000. And while Barbieri Sr. and Corpaci are banned from the banking industry for life, the younger Barbieri is banned for 10 years.
 A fourth individual, Domenic Daddona, a former director of Security, who was not named in the original OTS action, has also signed a consent order of prohibition and will pay $20,000 in restitution.
 Litigation continues against the four other individuals named in the original notice of charges. They are Vinal Duncan, former vice chairman; Mario Albini, former chairman; Paul Kolok, a so-called consultant, who operated as an officer; and Anthony DiFabio, former counsel. Of these, Duncan is already liable for $1,055,000 in civil money penalties because he defaulted by never replying to the notice of charges.
 -0- 4/28/93
 /CONTACT: Thomas P. Mason of the Office of Thrift Supervision, 202-906-6688/


CO: Office of Thrift Supervision; Security Savings and Loan Association ST: Connecticut, District of Columbia IN: FIN SU:

DC-TW -- DC026 -- 2087 04/28/93 13:27 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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