Reports swirled Tuesday that defendant Robert Burrell, onetime chief investment officer at WesCorp, had reached a settlement in the case brought against him by the NCUA, but the agency insisted that "there is no deal. Parties continue to discuss settlement options," said public affairs specialist John Zimmerman.
Last week onetime WesCorp chief risk officer Timothy Sidley settled with the NCUA in an agreement terms of which were not made public. Sidley did execute a prohibition order that excludes him from employment at a federally insured credit union.
Other defendants in the civil matter are onetime WesCorp CEO Robert Siravo, onetime CFO Todd Lane and Thomas Swedberg, former human resources director,
The NCUA apparently is presently negotiating settlements with other defendants. The status of those talks is unknown.
