The Board of the Federal Reserve said Tuesday Dunmore businessman Louis Denaples must resign his position as a director at First National Community Bank and another financial group based in Connecticut.
The board said its decision is based on an agreement Denaples made with Dauphin County prosecutors in 2009.
At that time Denaples agreed to turn over control of Mount Airy Casino Resort in Monroe County to his family and in return prosecutors dropped a perjury charge against him.
The Federal Reserve Board said Denaples needed approval from the bank’s board of directors before entering into that agreement.
Denaples will be required to resign and give up his interest in the bank.
