Opinion ID: 714794
Heading Depth: 1
Heading Rank: 1

Heading: facts

Text: 2 Following chronological order, we recount the details of the administrative proceeding and then discuss the criminal case. 3
4 From 1975 to 1990, defendant-appellant Robert S. Stoller toiled as the chief executive officer of the Coolidge Corner Cooperative Bank (the Bank). In 1986, the Bank became federally insured. Thereafter, Stoller caused it to make loans to several real estate trusts with which he was affiliated. The loans soured and the Bank sustained heavy losses. 5 In 1990, the FDIC instituted a debarment proceeding against Stoller. The FDIC charged, and an administrative law judge (ALJ) found, that the Bank underwrote the suspect loans without appropriate disclosure and in violation of Regulation O, 12 C.F.R. § 215 (a rule that caps the amount of credit a federally insured institution may extend to insiders and imposes lending limits on other extensions of credit). The ALJ concluded that Stoller's transgressions demonstrated a willful and persistent disregard for the Bank's soundness, and therefore warranted an order of proscription under 12 U.S.C. § 1818(e). 1 On administrative review, the FDIC's board of directors (the Board) affirmed the ALJ's factual determinations and approved his recommended order. Stoller requested reconsideration and clarification. On September 22, 1992, the Board issued a revised decision upholding the debarment order in slightly altered form: in its final version, the order prevents Stoller (who is an attorney) from serving as an officer or director of, exercising control over, or acting as counsel to, any federally insured financial institution. 6
7 In January 1995, a federal grand jury indicted Stoller for divers violations of federal banking laws, including nine counts of misapplying bank funds, see 18 U.S.C. § 656; thirty-one counts of unlawfully receiving loan-procurement commissions, see id. § 215; and eight counts of making false entries, see id. § 1005. Stoller promptly moved to dismiss the first nine counts of the indictment on double jeopardy grounds. The district court denied the motion, concluding that the debarment order did not constitute punishment in the relevant constitutional sense. See United States v. Stoller, 906 F.Supp. 39 (D.Mass.1995). This appeal followed.