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Fugitive Banker Agress to Return to U.S.

November 05, 1996|Times Staff and Wire Reports

A fugitive Orange County savings and loan executive, captured in Hong Kong in June after three years on the run, has agreed to return to the United States for sentencing on his bank fraud conviction, his lawyer said. Ottavio Antonio Angotti, who was chief executive of Consolidated Savings Bank in Irvine, faces a maximum 25-year prison sentence, as well as indictments for jumping bail and for loan fraud and money laundering involving a separate thrift. Regulators seized Consolidated in 1986. Angotti was convicted in 1993 of falsifying the thrift's loan record to hide proceeds funneled to an Anaheim fireworks manufacturer. He disappeared after being dropped off at a hospital in San Diego. Angotti, 60, is expected to be returned to California in one to three weeks, said his lawyer, Michael H. Artan of Los Angeles.

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