OKLAHOMA BANKING CHIEF WILL APPEAL CHARGE
State Banking
Commissioner Robert Empie, ordered removed from office in an
alleged insider trading scheme, plans to fight the charges, an
aide said today.
    "There will be a hearing on the allegations," a spokeswoman
said, when Empie returns from a meeting outside the state.
    Governor Henry Bellmon yesterday issued an executive order
removing Empie from office "by reason of his incompetence,
malfeasance and neglect of duty."
    Bellmon said Empie held or controlled more than 50,000
shares of stock in United Oklahoma Bank, a firm whose assets he
regulated. He said the commisssioner used "information available
to him only by reason of his position as commissioner to
determine when to sell or attempt to sell shares of stock."
    The order gave Empie 20 days to request a hearing,
something his aide indicated he planned to do. In the meantime
he was suspended from office.
    "Empie intentionally misled the state of Oklahoma into
believing that he had removed hmself from any potential
conflict of interest by placing the ... shares in a so-called
blind trust beyond his control, when in fact Empie continued to
be infomred of the assets in the trust and the value of those
assest and remained in control of their disposition, as shown
by his transfer of the shares on or about December 23, 1985,"
Bellmon said.
 Reuter
