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7/26/24, 1:40 PM FRB: Press Release -- Final Decision and Order of Prohibition and Restitution against Ricardo Carrasco -- December 16, 1998 Release Date: December 16, 1998 For immediate release The Federal Reserve Board announced the issuance of a Final Decision and Order of Prohibition and Restitution against Ricardo Carrasco, former employee of the New York Branch of BankBoston International, Coral Gables, Florida. The Order prohibits Mr. Carrasco from participating in the conduct of the affairs of any financial institution or holding company and requires him to make restitution of $73 million to reimburse BankBoston International for losses he caused in connection with certain overdraft accounts. A copy of the Final Decision and Order is attached Final Decision and Order (26 KB PDF) 1998 Enforcement actions Home | News and events Accessibility Last update: December 17, 1998, 12:00 PM https://www.federalreserve.gov/boarddocs/press/enforcement/1998/199812164/ 1/1