DOJ Appoints Baker Hostetler as Outside Monitor for Mellon Bank
New York, NY — The United States Attorney's Office for the Western District of Pennsylvania has selected New York partner George Stamboulidis to serve as the outside independent monitor of Mellon Bank, N.A. (Mellon).
Stamboulidis, along with New York partners Lauren Resnick and John Carney, will be responsible for oversight of Mellon's compliance with the terms and conditions of an August 2006 settlement agreement with the U.S. Attorney's Office and will conduct annual assessments of that compliance, providing detailed written reports to the United States Attorney.
The team of Stamboulidis, Resnick and Carney also currently serves as the Independent Examiner for The Bank of New York, which has announced it will merge with Mellon later this year.
Stamboulidis is the former government appointed monitor for Merrill Lynch in the Enron matter and is head of the firm's White Collar Defense & Corporate Investigations Practice. He also serves as monitor for Siemens and the Town of Brookhaven (the second largest town in New York State).
Resnick is a former chief of the Computer Crimes and Intellectual Property Section at the United States Attorney's Office in Brooklyn with significant private sector corporate compliance experience and Carney is a former Securities Fraud Unit Chief who prosecuted major international money laundering cases.
Many Baker attorneys have worked on these various monitorships, including: Anagha Apte, Dennis Cohen, Brian Esser, Jimmy Fokas, Steven Goldberg, Jim Mercadante, Jeff Paravano, Andy Reich, Justin Shigemi and Ona Wang.
In the August 2006 agreement, Mellon accepted responsibility for any criminal conduct by its employees in the firm's dealings with Financial Management Service and the Internal Revenue Service regarding the April 2001 destruction of more than 77,000 tax returns and payments at the Mellon Client Service Center in Pittsburgh, Pennsylvania.
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