Release Date: December 4, 2008
For immediate release
The Federal Reserve Board on Thursday announced the issuance of a Consent Order of Prohibition against Julianne L. Gingrich, a former Assistant Vice President, foreign currency manager and institution-affiliated party of SunTrust Bank (the "Bank"), Atlanta, Georgia, a state member bank.
Ms. Gingrich, without admitting to any allegations, consented to the issuance of the Order based on her alleged participation in violations of law, unsafe and unsound banking practices and breaches of fiduciary duty to the Bank, in connection with her duties relating to the foreign currency trading operations of the Bank. The Order asserts that Ms. Gingrich allegedly falsified the Bank's books and records and embezzled $54,571.64 from the general ledger accounts the Bank maintained in support of its foreign currency trading operations.
A copy of the Order is attached.