Bank Fraud Los Angeles

Federal authorities charged eight men Tuesday with taking part in a sophisticated ATM fraud that allegedly stole more than $2 million from bank and gas station customers throughout Los Angeles County. Authorities say the men, who worked as service station operators and bank tellers, conspired with the ring's leaders to illegally tap into the bank accounts of thousands of unsuspecting customers. One of the men named in the 41-page federal criminal complaint is a fugitive.

Three federal workers were booked on suspicion of theft, fraud and money laundering Wednesday in connection with an elaborate scheme to pocket money from a Woodland Hills credit card processing firm, authorities said. Carolyn Deruso, 60, a Treasury Department employee, her daughter Lelani Deruso, 31, a Defense Department worker and Wanda McClain, 31, also of Treasury--will be arraigned today in Van Nuys Municipal Court, prosecutors said.

Three federal workers were booked on suspicion of theft, fraud and money laundering Wednesday in connection with an elaborate scheme to pocket money from a Woodland Hills credit card processing firm, authorities said. Carolyn Deruso, 60, a Treasury Department employee, her daughter Lelani Deruso, 31, a Defense Department worker and Wanda McClain, 31, also of Treasury--will be arraigned today in Van Nuys Municipal Court, prosecutors said.

Defense Department investigators arrested two federal employees and a third woman on suspicion of diverting money from a Woodland Hills credit card processing firm. Investigators said Carolyn Deruso, 60, a member of the clerical staff of the Defense Contract Management Command, recruited a co-worker, Wanda McClain, 31, and her own daughter, Lelani Deruso, 31, a former employee of the U.S.

Defense Department investigators arrested two federal employees and a third woman on suspicion of diverting money from a Woodland Hills credit card processing firm. Investigators said Carolyn Deruso, 60, a member of the clerical staff of the Defense Contract Management Command, recruited a co-worker, Wanda McClain, 31, and her own daughter, Lelani Deruso, 31, a former employee of the U.S.

A Woodland Hills man has been charged with four counts of bank fraud for allegedly making false financial statements to obtain a business loan, a U. S. attorney said Thursday. Angel Francisco Santos, 41, the former owner of the now-bankrupt Latin Foods International of Los Angeles, was charged with defrauding City National Bank in Los Angeles of $1.5 million between August, 1991, and February, 1992, Assistant U. S. Atty. Jody Tabner Thayer said.

Three federal workers were booked on suspicion of theft, fraud and money laundering Wednesday in connection with an elaborate scheme to pocket money from a Woodland Hills credit card processing firm, authorities said. Carolyn Deruso, 60, a Treasury Department employee, her daughter Lelani Deruso, 31, a Defense Department worker, and Wanda McClain, 31, also of the Treasury Department, will be arraigned today in Van Nuys Municipal Court, prosecutors said.

The former chief executive officer of the Bank of San Pedro was sentenced Monday to more than seven years in federal prison for defrauding the institution of millions of dollars, causing it to fold. Lance Darryl Oak, 50, and two other defendants were convicted of federal charges in December. Prosecutors said they set up a sham company to purchase mortgage loans that were then sold to the bank at inflated prices. The bank lost at least $2.3 million as a result.

Robert J. Houston, a former accountant for King President Bruce McNall, pleaded guilty Wednesday to single counts of bank fraud, wire fraud and conspiracy, agreeing to cooperate with federal prosecutors in the ongoing investigation into McNall's banking practices. Houston, 44, faces a maximum prison term of 40 years, five years of supervised release and a $1.5-million fine, according to Assistant U.S. Attorney Peter G. Spivack. U.S. District Judge Richard Paez set a sentencing date of Feb. 16.

A 47-year-old Northridge man was sentenced Monday to six months in prison for defrauding a Santa Clarita bank of $133,050. U. S. District Court Judge J. Spencer Letts also ordered Gerald Joseph Cucco to pay back now-defunct Santa Clarita National Bank, which is owned by Bank of America. He also is to serve five years probation.

Three federal workers were booked on suspicion of theft, fraud and money laundering Wednesday in connection with an elaborate scheme to pocket money from a Woodland Hills credit card processing firm, authorities said. Carolyn Deruso, 60, a Treasury Department employee, her daughter Lelani Deruso, 31, a Defense Department worker, and Wanda McClain, 31, also of the Treasury Department, will be arraigned today in Van Nuys Municipal Court, prosecutors said.

The former chief executive officer of the Bank of San Pedro was sentenced Monday to more than seven years in federal prison for defrauding the institution of millions of dollars, causing it to fold. Lance Darryl Oak, 50, and two other defendants were convicted of federal charges in December. Prosecutors said they set up a sham company to purchase mortgage loans that were then sold to the bank at inflated prices. The bank lost at least $2.3 million as a result.

Federal authorities charged eight men Tuesday with taking part in a sophisticated ATM fraud that allegedly stole more than $2 million from bank and gas station customers throughout Los Angeles County. Authorities say the men, who worked as service station operators and bank tellers, conspired with the ring's leaders to illegally tap into the bank accounts of thousands of unsuspecting customers. One of the men named in the 41-page federal criminal complaint is a fugitive.

Robert J. Houston, a former accountant for King President Bruce McNall, pleaded guilty Wednesday to single counts of bank fraud, wire fraud and conspiracy, agreeing to cooperate with federal prosecutors in the ongoing investigation into McNall's banking practices. Houston, 44, faces a maximum prison term of 40 years, five years of supervised release and a $1.5-million fine, according to Assistant U.S. Attorney Peter G. Spivack. U.S. District Judge Richard Paez set a sentencing date of Feb. 16.

A Woodland Hills man has been charged with four counts of bank fraud for allegedly making false financial statements to obtain a business loan, a U. S. attorney said Thursday. Angel Francisco Santos, 41, the former owner of the now-bankrupt Latin Foods International of Los Angeles, was charged with defrauding City National Bank in Los Angeles of $1.5 million between August, 1991, and February, 1992, Assistant U. S. Atty. Jody Tabner Thayer said.

The man first identified as a doctor when he was arrested last month in a money-laundering scheme is actually a self-employed financial consultant who left academic posts in three states after a series of controversies. The troubled resume of Alan J. Weston, 52, charts the path of a personable professor who became a college dean and president at two campuses in Southern California, only to be fired from both jobs.

The man first identified as a doctor when he was arrested last month in a money-laundering scheme is actually a self-employed financial consultant who left academic posts in three states after a series of controversies. The troubled resume of Alan J. Weston, 52, charts the path of a personable professor who became a college dean and president at two campuses in Southern California, only to be fired from both jobs.

Attorneys presented clashing views Tuesday of an Orthodox Jewish rabbi during the first day of his trial on charges of money laundering and bank fraud in Los Angeles federal court. Assistant U.S. Atty. Leslie A. Swain told jurors that Rabbi Abraham Low was a sophisticated businessman who had participated in three illegal schemes "unified by one corrupt purpose--to turn dirty money into clean funds that are as good as gold."

A 47-year-old Northridge man was sentenced Monday to six months in prison for defrauding a Santa Clarita bank of $133,050. U. S. District Court Judge J. Spencer Letts also ordered Gerald Joseph Cucco to pay back now-defunct Santa Clarita National Bank, which is owned by Bank of America. He also is to serve five years probation.