The Federal Reserve Board has announced an enforcement action involving a former employee of Dacotah Bank in Aberdeen, South Dakota. On Thursday, the Board issued a consent prohibition order against Nicholas Leroy Klug. The action follows findings related to embezzlement of bank funds.
The enforcement order prohibits Klug from participating in the affairs of any insured depository institution.
Additional details about this and other enforcement actions are available through the Federal Reserve’s searchable database at https://www.federalreserve.gov/apps/enforcementactions/default.aspx.
