Conference 7.286::dcu

607.0. "Reward offered for locating Mangone's assets" by PLOUGH::KINZELMAN (Two Terms, 1 in office, 1 in jail) Tue Sep 22 1992 20:49

	The following is an official release from the
	Digital Employees Federal Credit Union and may
	be forwarded or given to anyone provided the
	entire text including this message is retained.

		**Reward Offered**

	Digital Employees' Federal Credit Union

A reward is hereby offered for new and original information
leading to the return and retention by Digital Employees' Federal
Credit Union (herein "DCU") of funds misappropriated as a result
of participation loans with Barnstable Community Federal Credit
Union between 1985 and 1991. This reward shall consist of twenty
percent (20%) of the misappropriated funds recovered and retained
by DCU as a direct result of the information supplied not to
exceed $250,000.00 to any individual and subject to a
$1,000,000.00 aggregate limit. In the event the aggregate limit
is reached, all reward payments will be reduced on a pro rata
basis.

This reward is offered to persons or entities supplying
information that is new and original to the investigation (that
is, not reported prior in time by another individual or entity or
already known to DCU). Past and current employees, contracters,
Directors, Officers and Committee Members (as well as their
families) are excluded from this offer. Information received
must lead to the recovery and retention of funds by DCU; funds to
which the federal government or any other entity have a superior
claim are excluded from this reward.* As a result, payment of any
reward will be delayed until any other claims are resolved.

Upon request, the names of individuals or entities supplying
information will be kept confidential unless such confidentiality
would hinder the fund recovery effort or disclosure is otherwise
compelled by law.

All information regarding the misappropriated funds should be
directed to Mr. Chuck Cockburn by First Class Mail/Certified
Return Receipt Requested at 141 Parker Street, PKO5, Maynard, MA
01754-0130. The date noted on the return receipt shall be
considered the date the information was received.

This reward offering expires on October 1, 1993 unless extended
in writing by DCU.

      * Important Note: Because DCU was not the only institution
	defrauded, all funds recovered may be subjsct to claims of
	the National Credit Union Administration as liquidating
	agent of the Barnstable Community Federal Credit Union, as
	well as other governmental and non-governmental entities.
	Such claims could reduce the amounts recovered and retained
	by DCU and, consequently, the amount of reward paid. The
	nature and extent of such claims is unknown at this time.

	By way of example (all numbers and percentagss are
	hypothetical), let's say DCU receives new and original
	information regarding a bank account containing $48,000.00
	of misappropriated funds and recovers the full amount. If
	NCUA were to successfully claim 75% ($36,000.00), then DCU
	would receive 25% ($12,000.00). The person supplying the
	information would receive 20% ($2,400.00) of the $12,000.00
	recovered and retained by DCU.