WASHINGTON -- The Comptroller of the Currency will begin public hearings next week to investigate allegations that William Vasa, a former vice president and loan officer at the First National Bank of Southeast Denver, misappropriated bank funds between 1990 and 1992.

The OCC is seeking his prohibition from the banking industry and restitution of approximately $53,000. First National was acquired earlier this year by Norwest Bank Colorado.

The agency alleges that Mr. Vasa concealed his involvement in a scheme to defraud the bank by creating bogus loan applications using both preexisting customer files and made-up names of "borrowers" to originate loans for his personal benefit.

The hearing will begin at 9:30 a.m. in the U.S. District Courthouse in Denver.

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