It’s being reported that Sekou Kaalund, Senior Executive VP and member of the Managing Committee, may have involved himself in some financial shenanigans, and may have misrepresented some material facts to the court appointed Receiver of troubled distiller Uncle Nearest Inc. This could subject the bank to substantial reputational risk as the story develops.
https://www.thebourbonandryeclub.com/splash-page/uncle-nearest-lawsuit-live-updates
@OP Ha Ha
NYC has been a challenge for several members of the MC on the ethical front. Good thing the Chief Ethics Officer is gone!
Sekou in trouble? Color me shocked!
Fire this incompetent man immediately.
@am
There's quite a bit more to this. He doesn't know the owner - he knows the former CEO and her husband who had control over the ownership entities. He is buying it from the receivership estate. Uncle Nearest Inc. borrowed the money for the house under their primary credit facility and transferred title to a related LLC controlled by the CEO's husband that was beyond the reach of the lender. They then obtained a first mortgage on the property from another lender. Now the receiver is selling the property in what he thought was an arm's length transaction, except that the buyer (Sekou) appears to have undisclosed ties to the CEO and her husband. Now there is a hearing scheduled before a federal judge and somebody has some explaining to do.
He’s buying a home, at market value or above. It’s irrelevant if he knows the owners.
https://www.americanbanker.com/news/u-s-banks-former-ai-chief-accuses-bank-of-discrimination
Noticing a trend with new management...
Quit being racist. We all knew as soon as a POC replaced the prior ol' white pastor boy the racist comments would come flooding in.
I recall seeing a post in here like a week ago asking how long until we see USB in the news for some kind of scandal.
@a7 trust me the legal team already knows.
If I was Sekou, I don't think I would be in a hurry to bring this to the attention of Legal.
Watch Sekou get the mod to remove this post via a cease and desist order. This is how management operates, hiding behind lawyers.
If he's involved in a straw purchase of assets from a receiver on behalf of a disgraced former CEO, then this is going to be a much bigger story than him getting handsy at the bar after work.
Wasn't he involved in some off site, after work shenanigans where HR had to get involved last year? I'm shocked he wasn't fired last year for gross incompetence.