![]() ![]() Nevertheless, BURNELL conspired with the Bank’s President Ashton J. Other people involved with the Bank, including the Bank’s board of directors, external auditors, and federal and state regulators, relied on BURNELL as the Chief Credit Officer to inform them about problems with the Bank’s asset quality, including problems with loans. BURNELL was also responsible for approving credit risk ratings before the Bank decided to lend to its customers. Misrepresentations on these reports made a true assessment of the Bank’s overall financial well-being impossible. ![]() These reports should have accurately shown the quality of the Bank’s assets, which included loans. BURNELL was responsible for compiling month-end reports, including lists of overdrawn borrowers and past-due loans. He was responsible for the overall quality of the Bank’s lending function the Bank’s credit policies and administration the Bank’s loan recovery and collection efforts and the Bank’s monitoring and managing of past due loans, including the approval of the Bank’s internal list of past-due loans. BURNELL (“BURNELL”), age 72, a resident of Kenner, Louisiana, pleaded guilty today to conspiracy to defraud First NBC Bank (“ Bank “), the New Orleans-based bank that failed in April 2017.Īccording to court documents, from in or around 2006 through April 2017, BURNELL was the Bank’s Chief Credit Officer. NEW ORLEANS – United States Attorney Duane A.
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