Former Director of the credit Union are prohibited from all other boards

  • Former Director of the credit Union are prohibited from all other boards
    Independent.t. E.
    Former Director of the credit Union was banned from holding any responsible positions in any financial firms once convicted of embezzling funds.
    https://www.independent.ie/business/personal-finance/former-credit-union-director-banned-from-all-other-boards-37258926.html
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Former Director of the credit Union was banned from holding any responsible positions in any financial firms once convicted of embezzling funds.

It comes after suspected financial irregularities at the city bus employees’ credit Union in Dublin was reported to the police and the Central Bank.

Now the Central Bank has issued a notification banning David stamp, former Director of the credit Union employees city bus’ society prohibits them from carrying out any controlled function, including pre-approval controlled functions in which regulated financial service provider for an indefinite period.

The move comes after the Central Bank investigation into the management of Mr Stamper premium subscriber to draw on the city bus CU.

The regulator said that he found Mr. Stamper is responsible for “theft of large sums of money from urban bus vehicle between 2010 and 2015”.

Mr. Stamper has cooperated fully with the investigation of the Central Bank, said in a statement the regulator said.

He was investigated under the Central Bank fitness and probity.

The Director of the Department of law enforcement and the fight against money laundering in the Central Bank, Seana Cunningham, said: “the Central Bank will continue to hold individuals accountable when they do not meet expected standards of suitability and integrity.

“Such high standards that the financial services industry and the General public rightly expect on his older face.

“To lead Mr Stamper was far from the standards justifying the granting of a ban for an indefinite period, which is the most serious of the possible results of the fitness and research on the lie detector.”

In June, the Irish independent revealed that credit Union employees city bus’ end up spending huge amount of money sensing and eliminating losses from fraud.

In General, fraud amounted to €218,000 in credit unions employees of the city by bus, whose members work in Dublin bus.

But the cost of the investigation and the members of the compensation means it ran up total losses of €1.2 million in 2016.

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