Jack Murphy was named by federal bank regulators in a lawsuit filed over a failed Alpharetta, Ga. bank.
In a statement released on Thursday, the Senate Committee on Assignments noted Murphy, a Republican from Cumming, has denied the allegations. The panel said it would be ``improper for anyone to rush to judgment based on mere allegations and without a determination of fact.''
The FDIC on Tuesday accused Murphy and seven other executives from Integrity Bank of gross negligence and breaching fiduciary duty. The FDIC seeks more than $70 million in damages for a series of loans made from 2005 to 2007.
http://accesswdun.com/article/2011/1/235453