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BEFORE
UNITED STATES OF AMERICA
THE BOARD OF GOVERNORS OF THE FEDERAL
WASHINGTON, D.C.
RESERVE SYSTEM
Docket No. 94-034-E-l
In the Matter of
JOHN H. AHN
An Institution-Affiliated
Party of
Hanmi Bank,
Order of Removal
and Prohibition
Issued Upon Consent
Pursuant to the Federal
Deposit Insurance Act,
as Amended
Los Angeles, California
WHEREAS, pursuant to sections 8(e) and (i)(3) of the Federal
Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. 1818(e) and (i)(3)), the
Board of Governors of the Federal Reserve System {the “Board of Governors”) issues
this Order of Removal and Prohibition (the “Order”) against John H. Ahn (“‘Ahn”), a
director and an institution-affiliated party, as defined by section 3(u) of the FDI Act (12
U.S.C. 1813(u)), of the Hanmi Bank, Los Angeles, California (the “Bank”), a state
member bank, concerning Ahn’s alleged participation in unsafe and unsound practices
and alleged violations of Regulation 0 of the Board of Governors in connection with
loan transactions with the Bank; and
WHEREAS, by affixing his signature hereunder, Ahn has
consented to the issuance of this Order by the Board of Governors and has waived any
and all rights he might otherwise have pursuant to 12 U.S.C. 1818 or 12 C.F.R. Part
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263, or otherwise (a) to the issuance of a notice of intention to remove and prohibit on
any matter set forth in this Order; (b) to a hearing for the purpose of taking evidence on
any matter implied or set forth in this Order; (c) to obtain judicial review of this Order or
any provision hereof; and (d) to challenge or contest in any manner the basis, issuance,
terms, validity, effectiveness or enforceability of this Order or any provision hereof.
NOW, THEREFORE. prior to the taking of any testimony or adjudication
of or finding on any issue of fact or law implied or set forth herein, and without this
Order constituting an admission of any allegation made or implied by the Board of
Governors in connection herewith, and solely for the purpose of settlement of this
proceeding without protracted or extended proceedings:
IT IS HEREBY ORDERED, pursuant to sections 8(e), (i)(3) and (j) of the
FDI Act (12 U.S.C. 1818(e), (i)(3), and (j)) that:
1. Ahn, without the prior written approval of the Board of Governors and,
where necessary pursuant to section 8(e)(7)(B) of the FDI Act (12 U.S.C.
1818(e)(7)(B)), another federal financial institution regulatory agency, is hereby and
henceforth prohibited:
(a) From participating in any manner in the conduct of the affairs of
any institution or agency specified in section 8(e)(7)(A) of the FDI Act (12 U.S.C.
2
1818(e)(7)(A)), including, but not limited to, the Bank, any insured depository institution
or any insured depository institution holding company;
(b) from soliciting, procuring, transferring, attempting to transfer,
voting or attempting to vote any proxy, consent, or authorization with respect to any
voting rights in any institution described in section 8(e)(7)(A) of the FDI Act
(12 U.S.C. 1818(e)(7)(A)); or
(c) from voting for a director, or serving or acting as an institutionaffiliated party, as defined in section 3(u) of the FDI Act (12 U.S.C. 1813(u)), such as an
officer, director or employee in any institution described in section 8(e)(7)(A) of the FDI
Act (12 U.S.C. 1818(e)(7)(A)).
2. Any violation of this Order shall separately subject Ahn to appropriate
criminal or civil penalties, or both, under sections 8(i) and (j) of the FDI Act (12 U.S.C.
1818{i) and (j)).
3. All communications regarding this Order shall be addressed to:
(a)
Mr. Robert Johnson
Assistant Vice President
Federal Reserve Bank of San Francisco
Los Angeles Branch
950 South Grand Avenue
Los Angeles, California 900 15
3
UN
Mr. John H. Ahn
8592 Los Coyotes Dr.
Buena Park, California 90621
4. The Board of Governors will take no other action against Ahn that
would arise out of the facts and circumstances described in the Notice of Charges
issued against Ahn in this matter.
5. This Order, and each and every provision hereof, shall not bar, estop,
or otherwise prevent any other federal or state agency or department from taking any
other action affecting Ahn.
6. This Order, and each and every provision hereof, is and shall remain
fully effective and enforceable until expressly stayed, modified, terminated or
suspended in writing by the Board of Governors.
By order of the Board of Governors effective this&?,\
+-
day of
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
N
John H. Ahn