The NCUA has announced a cease-and-desist order against anotherdefendant in the Western Corporate Federal Credit Union lawsuit,with terms similar to others who are banned from corporate creditunions, but not natural person.

Former WesCorp Human Resources Director Thomas E. Swedberg consented to the order without admittingfault, and is prohibited from becoming an employee of, holding anyoffice in, or otherwise participating in any manner in the conductof the affairs of any federally insured corporate credit union, theagency said in its announcement Friday.

The former human resources professional, who had no known rolein WesCorp's investment strategy, is also banned from consulting oradvising any federally insured corporate credit union on anymatters involving or relating to investment securities, investmentpolicy or investment strategy; or selling any investmentsecurities, directly or indirectly, to any federally insuredcorporate credit union.

Swedberg's role in the WesCorp lawsuits involved alleged fraudinvolving a scheme to increase Supplemental Executive Retirement Planpayouts for himself, former CEO Robert Siravo and former CFO ToddLane.

According to an NCUA release, the order was one of the terms ofthe settlement agreement between Swedberg and NCUA to settle thepotential claims against him, stemming from the conservatorship andeventual liquidation of WesCorp.

The NCUA filed the settlement agreement with Swedberg in LosAngeles federal court April 16, with the stipulation that a futuresettlement conference between the two parties would be conductedoff the record.

That leaves just Siravo and Lane as the only remainingdefendants who have not yet settled with the regulator.

Lane's legal team filed court documents June 20 demanding proof he “dictated revenuetargets to be achieved by the investment department.”

Lane also requested details regarding the anticipated testimonyof former WesCorp Chief Risk Officer Timothy Sidley and formerChief Investment Officer Robert Burrell, including Burrell'ssettlement agreement with the NCUA.