May 29, 2024
VIA FEDERAL EXPRESS OVERNIGHT MAIL
Phillip Brian Topping, xxxxxxxxxxxxxxxx
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Re: Notice of Prohibition
Dear Mr. Topping:
The National Credit Union Administration (“NCUA”) has become aware that on March 17, 2023, you were convicted in United States District Court, Northern District of Alabama on one count Theft or Embezzlement, 18 U.S.C. § 657. United States of America v. Phillip Brian Topping, Case Number: 2:22-CR-336-RDP-GMB-1. Your offenses were in connection with your employment at New Pilgrim Federal Credit Union, Birmingham, Alabama. You were subsequently sentenced to 42 months imprisonment, 60 months supervised release, and ordered to pay restitution.
This letter is to notify you that as a result of your conviction you are subject to the prohibitions set forth in 12 U.S.C. §§ 1785(d) and 1829. As such, without the prior written consent of the NCUA or Federal Deposit Insurance Corporation, these sections prohibit you by operation of law from becoming an “institution-affiliated party” of any insured depository institution (as defined in 12 U.S.C §§ 1786(r) or 1813(u)), or 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.
Sections 1785(d) and 1829 impose criminal penalties of up to five years imprisonment and a fine of up to $1,000,000 for each day the prohibition is violated. Should a knowing violation of these sections occur, both you and the institution would be subject to the penalties provided by the statute.
If you believe that your conviction is not covered by sections 1785(d) or 1829, please contact the Office of General Counsel at ogcmail@ncua.gov or 703.518.6540 immediately.
Be advised that a copy of this letter will be available on the NCUA’s public website.
Sincerely,
/s/
Frank S. Kressman
General Counsel
OGC/FSK:gsp
24-5389