The NCUA on Monday issued a banishment order against Timothy Sidley, onetime chief riskofficer with WesCorp.

Sidley had been a party in the litigation NCUA has been pursuingagainst former WesCorp executives but late last week it wasannounced that he and NCUA had reached a settlement that will remove him from the case.

Terms of the settlement have not been revealed. Sidley'sattorney, Seth Freilich,had not returned a phone call, or responded to an email, seekingelaboration.

The formal NCUA prohibition order – which prohibits Sidley from“participating in any manner in the conduct of affairs of anyfederally insured credit union” – was consented to by Sidley,apparently as part of his settlement agreement with theregulator.

Sources also indicated that, as part of that agreement, Sidleyhas agreed to testify against his co-defendants – former WesCorpexecutives including Robert Siravo, Todd Lane, Robert Burrell and Thomas Swedberg.Confirmation of this has not been issued, either by Sidley'sattorney or the NCUA.

There are additional reports that at least one other defendanthas reached a settlement agreement with NCUA but that individual'sidentity has yet to be released.