Administrative Order: In the Matter of Elka Arrechavala

NOTICE OF PROHIBITION

WHEREAS on or about February 26, 2020, Elka Maria Arrechavala (“Arrechavala”) was sentenced on the charges of Criminal Use of Personal Identification - Victim Under 18 or over 60, Fla. Stat. § 817..568(.6); Embezzlement of Money or Property of Financial Interest, Fla. Stat. § 655..032(2.3b); Organized Fraud to Obtain Property Less than $20,000, Fla. Stat. § 817..034(.4a3); and, Theft of Person 65 or older, $300 to under $10,000, Fla. Stat. § 812..014(5.2c) charges to which she entered a plea of nolo contendere, in the Circuit Court of the 18th Judicial Circuit, Brevard County, Florida, in connection with her employment at Space Coast Credit Union;

WHEREAS violations of Fla. Stat. §§ 817..568(.6), 655..032(2.3b), 817..034(.4a3), and 812..014(5.2c) are criminal offenses involving dishonesty and breach of trust;

NOW, THEREFORE, YOU ARE HEREBY NOTIFIED THAT:

1. Pursuant to 12 U.S. C. § 1785(d)(1)(A) and 12 U.S.C. § 1829(a)(1)(A), Arrechavala is prohibited from becoming an “institution affiliated party” of any insured depository institution, as defined in 12 U.S.C. § 1786(r); otherwise participating, directly or indirectly, in the conduct of the affairs of any insured depository institution; and owning or controlling, directly or indirectly, any insured depository institution;
2. Pursuant to 12 U.S.C. § 1785(d)(1)(B) and 12 U.S.C. § 1829(a)(1)(B), no insured depository institution may permit Arrechavala to engage in any conduct or continue in any relationship prohibited in paragraph 1 above;
3. Pursuant to 12 U.S.C. § 1785(d)(3) and 12 U.S.C. § 1829(b), whoever knowingly violates paragraph 1 or 2 above is subject to a fine of not more than $1 million for each day such prohibition is violated, or imprisonment for not more than five (5) years, or both;
4. The “Judgment/Order of Probation/Order of Community Control” document, Case No. 05-2019-CF-013256-AXXX-XX, is made a part hereof and is incorporated herein by reference; and

ISSUED this 14th day of July, 2020.

NATIONAL CREDIT UNION ADMINISTRATION