Sumary of Eagle Bancorp in settlement talks with SEC, Fed as CFO faces penalty:
- The Securities and Exchange Commission has sent a notice to Eagle Bancorp Chief Financial Officer Charles Levingston signaling that it is planning to bring enforcement actions against him.
- Evans was accused of several ethics violations in 2019, in part for his dealings with Eagle Bancorp and its former CEO and co-founder Ron Paul.
- Evans was allegedly hired as a consultant by the bank and pushed local legislation that would move the district’s funds into local banks like Eagle, while he owned shares in the company.
- There were also ethics concerns raised with Evans’s former role as chairman of the board at the Washington Metropolitan Area Transit Authority, which was allegedly a customer of Eagle’s at the time.
- Paul stepped down from his post at the helm of Eagle in 2019 citing “serious health developments.
- ”The SEC and Fed investigations have focused on the bank’s “identification, classification and disclosure of related party transactions” along with the retirement of former officers and directors.