Suddenly seem to have found an angry flock of friends in California, who haven't overlooked what the SECU Board did.
Can't blame them, can you? [mean by "them" the California folks, not "this Board!]
| Filed: WesCorp Complaint |
From: A CEO of a California Credit Union Which Suffered Large $$$$ Losses At Wescorp
Date: 2023 at 11:10 AM
Subject: Filed: WesCorp Complaint
Jim-
WesCorp was placed into conservatorship by the NCUA in March, 2009.
I participated in the attached lawsuit filed November, 2009 vs. WesCorp.
The NCUA intervened and took over the lawsuit.
Jim Hayes was the Senior Vice President & CFO at WesCorp at the
time and was among the defendants.
By 2008 MBO's *[see below] represented 37% of Corporate CU investment portfolios.
At WesCorp it was 80%. A reckless negligent gamble.
He was the CFO. He was there. He was at board meetings. He was at
ALM meetings. He drank the Kool-Aid.
Now look at him.
Never Shocked. Just Disappointed. The NCUA should have barred him
from continued credit union employment.
The CEO
----- Original Message -----
Sent: Tuesday, November 24, 2009 1:34:49 PM GMT -08:00 US/Canada Pacific
Subject: Status Update: WesCorp Complaint
Gentlemen -
The complaint has been sent for filing by our local counsel, David Parisi. When the file-stamped copy of the Complaint is returned from Court, David will circulate a copy to each of you.
FYI - I will be off the grid tomorrow through Sunday. Have a nice Thanksgiving, everyone.
Regards-
Deborah
| ||||||||||||
* MBO's
