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BUSINESS
July 3, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal prosecutors, lacking evidence after three weeks of trial, dropped 11 of 14 criminal counts Thursday against Robert A. Ferrante as the government rested its case against the former owner of Consolidated Savings Bank and five others. On their own motion, prosecutors dropped all charges against Ferrante relating to a series of loans that the now-defunct Irvine thrift made to Pyrotronics Inc. in Anaheim, once the state's biggest maker of so-called safe and sane fireworks.
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BUSINESS
November 5, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
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 Monday. 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.
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BUSINESS
December 11, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal regulators have settled all civil lawsuits, including claims of racketeering and fraud, against the former owners and operators of American Diversified Savings Bank and Consolidated Savings Bank, authorities said Monday. The FBI, however, is continuing separate criminal investigations of the two defunct Orange County thrifts, which failed in 1986.
BUSINESS
September 4, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Orange County savings and loan executive, on the run for three years after his conviction for defrauding an Irvine thrift, has been captured and is awaiting an extradition hearing in Hong Kong. Ottavio A. Angotti, former chief executive of the now-failed Consolidated Savings Bank, is expected to fight his return to California at a Nov. 4 hearing in Hong Kong.
BUSINESS
November 5, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
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 Monday. 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.
BUSINESS
June 10, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Former thrift owner Robert A. Ferrante and five others, indicted after a five-year, top-priority FBI investigation, will go on trial today in federal court on conspiracy and fraud charges stemming from the operation of now-defunct Consolidated Savings Bank in Irvine. The six have decided to forgo a jury trial and, instead, will be tried before U.S. District Court Judge Mariana R. Pfaelzer in Los Angeles on a 17-count indictment accusing them of criminal wrongdoing in two deals involving $13.
BUSINESS
November 12, 1990 | From United Press International
Accountant Admits Involvement in Loan Fraud: A certified public accountant pleaded guilty to charges that he conspired to defraud the government in connection with a $9.5-million "straw loan" between CB Financial Corp. in Oklahoma and the now-defunct Orange County-based Consolidated Savings Bank. Phil G. Gilbert was an executive vice president of Consolidated Savings Bank when the loan was executed in 1985.
BUSINESS
February 15, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Only two months ago, Robert A. Ferrante must have felt relief when he settled civil lawsuits with federal thrift regulators stemming from the 1986 collapse of Consolidated Savings Bank. The Newport Beach developer was even working with them to recoup the losses at the defunct savings and loan. But relief turned to rancor Thursday when a Los Angeles federal grand jury indicted Ferrante and eight associates.
BUSINESS
September 4, 1996 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Orange County savings and loan executive, on the run for three years after his conviction for defrauding an Irvine thrift, has been captured and is awaiting an extradition hearing in Hong Kong. Ottavio A. Angotti, former chief executive of the now-failed Consolidated Savings Bank, is expected to fight his return to California at a Nov. 4 hearing in Hong Kong.
BUSINESS
October 4, 1994 | JAMES S. GRANELLI, TIMES STAFF WRITER
Robert A. Ferrante, former owner of a now-defunct Irvine thrift, won another victory from federal officials Monday when a judge threw out the government's $5-million civil penalties case against him. U.S. District Judge Mariana R. Pfaelzer dismissed the complaint filed by the U.S. attorney's office after Ferrante's lawyers argued that the case against him violated the Constitution's double jeopardy prohibition.
BUSINESS
June 19, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Ottavio A. Angotti, former chairman of an Irvine savings and loan, has dropped out of sight after being convicted of falsifying thrift records and indicted in a separate case alleging fraud in helping his son obtain a home loan. A federal judge issued a fugitive warrant for the arrest of Angotti, a La Habra resident. Angotti, 56, hasn't been seen since Memorial Day when he was supposed to check into Scripps Hospital in San Diego for surgical tests to determine if he has cancer.
BUSINESS
May 13, 1993
A federal jury Wednesday convicted the former chief executive of an Irvine bank in connection with a loan scheme to steal more than $1.6 million through fraud, the U.S. attorney's office said. Ottavio Antonio Angotti, 56, of La Habra was convicted of five counts of causing false entries to be recorded in the books of the now-defunct Consolidated Savings Bank. The verdict was handed down after an 11-day trial before U.S. District Judge Manuel Real.
BUSINESS
May 6, 1993
Federal regulators have permanently banned Robert A. Ferrante from running a federally insured bank or savings and loan. Ferrante was chairman and sole owner of Consolidated Savings Bank in Irvine, which failed in 1986. Ferrante agreed to the ban but didn't admit or deny there were grounds for a hearing against him, said the federal Office of Thrift Supervision.
BUSINESS
January 9, 1993 | From Times Staff and Wire Reports
Ferrante Associates Win New Trials: Two business associates of Robert A. Ferrante, the former owner of now-defunct Consolidated Savings Bank, have been granted new federal trials on fraud and conspiracy charges. U.S. District Judge Mariana R. Pfaelzer granted defense motions for new trials for Raymond L. Arthun and Ottavio A. Angotti because neither the court nor federal prosecutors followed proper procedures in obtaining their waivers of a jury trial.
BUSINESS
October 24, 1991 | From Times Staff and Wire Reports
Crowder Pleads Guilty: William E. Crowder, 42, pleaded guilty to criminal charges stemming from the 1986 failure of Irvine-based Consolidated Savings Bank. The Covina real estate developer pleaded guilty to one count each of aiding and abetting loan fraud and misapplication of savings and loan funds. He faces up to 10 years in federal prison and fines of $500,000.
BUSINESS
June 10, 1992 | From Times Staff and Wire Reports
Bankers' Trial Begins: Former thrift owner Robert A. Ferrante and five others will go on trial today in federal court on conspiracy and fraud charges stemming from the operation of now-defunct Consolidated Savings Bank in Irvine. The six, indicted after a five-year FBI investigation, have decided to forgo a jury trial. Instead, they will be tried before U.S. District Judge Mariana R. Pfaelzer in Los Angeles on 17 counts accusing them of criminal wrongdoing in two transactions.
BUSINESS
September 15, 1992 | From Times Staff and Wire Reports
Former S&L Chief Acquitted: Robert A. Ferrante, the target of a five-year FBI investigation, was acquitted of all charges stemming from the operation of now-defunct Consolidated Savings Bank in Irvine. Three co-defendants were also acquitted, but two close associates, Ottavio A. Angotti and Raymond L. Arthun, were convicted of conspiracy and fraud counts relating to $4 million in loans that Consolidated made to Pyrotronics Corp., an Anaheim fireworks manufacturer.
BUSINESS
September 15, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
Robert A. Ferrante, the target of a five-year, top-priority FBI investigation, was acquitted Monday of all criminal charges stemming from the operation of now-defunct Consolidated Savings Bank in Irvine. Three co-defendants were also acquitted, but two others, Ottavio A. Angotti and Raymond L. Arthun, were convicted on conspiracy and fraud counts relating to $4 million in loans that Consolidated made to Pyrotronics Corp.
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