- Associated Press - Tuesday, September 29, 2015

ALBUQUERQUE, N.M. (AP) - Los Alamos National Bank and its holding company Trinity Capital Corp. have agreed to pay $1.5 million to settle fraud charges by the Securities and Exchange Commission.

The Albuquerque Journal reports (https://goo.gl/FSbrqA) the charges were brought following an investigation that found Trinity had understated its losses from loans and leases in filings from 2010 to 2012. By settling, the bank and its holding company are not admitting or denying wrongdoing.

Five current and former executives also face charges in the case. The SEC alleges the fraud was directed by former LANB CEO Bill Enloe, former chief credit officer Jill Cook and former senior lending officer Mark Pierce.

The current CEO of LANB and Trinity, John Gulas, says the bank is ready to move forward and will continue cooperating with the SEC.

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Information from: Albuquerque Journal, https://www.abqjournal.com


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