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Ranbir Sahni

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BUSINESS
September 20, 1989 | JAMES S. GRANELLI, Times Staff Writer
Former owners of two defunct Orange County savings and loans said Tuesday that they have nothing to fear from a twice-convicted bank swindler who has agreed to testify about allegedly phony deals he had with their thrifts. Charles J. Bazarian Jr., an Oklahoma loan broker already serving a two-year term for a 1987 bank fraud conviction, is expected to plead guilty today in Oklahoma City to charges he defrauded the two S&Ls and the U.S. Department of Housing and Urban Development.
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BUSINESS
September 20, 1989 | JAMES S. GRANELLI, Times Staff Writer
Former owners of two defunct Orange County savings and loans said Tuesday that they have nothing to fear from a twice-convicted bank swindler who has agreed to testify about allegedly phony deals he had with their thrifts. Charles J. Bazarian Jr., an Oklahoma loan broker already serving a two-year term for a 1987 bank fraud conviction, is expected to plead guilty today in Oklahoma City to charges he defrauded the two S&Ls and the U.S. Department of Housing and Urban Development.
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BUSINESS
June 7, 1988 | JAMES S. GRANELLI, Times Staff Writer
The plug wasn't pulled until Monday, but American Diversified Savings Bank and North America Savings & Loan appeared doomed once regulators took control of them in 1986 and 1987. Both Orange County institutions had run up big losses under their private owners, and the red ink gushed even more freely under the new managers hired for the S&Ls by federal regulators.
BUSINESS
June 7, 1988 | JAMES S. GRANELLI, Times Staff Writer
The plug wasn't pulled until Monday, but American Diversified Savings Bank and North America Savings & Loan appeared doomed once regulators took control of them in 1986 and 1987. Both Orange County institutions had run up big losses under their private owners, and the red ink gushed even more freely under the new managers hired for the S&Ls by federal regulators.
BUSINESS
February 21, 1986
Less than a week after seizing American Diversified Savings Bank of Costa Mesa, federal regulators filed a $76.6-million lawsuit against Ranbir Sahni, American Diversified's controversial majority owner and former chairman, and Lester Day, the S&L's former president, alleging the two committed various acts of fraud and racketeering while officers of the failed S&L. The Federal Savings and Loan Insurance Corp.
BUSINESS
February 15, 1986 | JOHN O'DELL, Times Staff Writer
Controversial American Diversified Savings Bank was declared insolvent and seized Friday evening by the Federal Home Loan Bank Board, making it the third California savings and loan and the sixth nationally to fail so far this year.
BUSINESS
October 13, 1987 | JAMES S. GRANELLI, Times Staff Writer
In an end-run around federal regulators who seized control of his savings and loan firm nearly two years ago, ousted American Diversified Savings Bank owner Ranbir Sahni has regained at least temporary control of nearly 25% of the ailing institution's assets.
BUSINESS
January 24, 1990 | James S. Granelli, Times staff writer
New Business: The disastrous crash of the savings and loan industry is padding the pocketbooks of many lawyers and accountants, and now firms who service those professionals are trying to cash in too. The Bank Bailout Litigation News invites lawyers to subscribe to its new biweekly report on what's working in court for plaintiffs and defendants.
BUSINESS
August 28, 1987 | JAMES S. GRANELLI
Ranbir S. Sahni, former chairman and majority owner of American Diversified Savings Bank, has asked an Orange County judge to disqualify a law firm from representing the savings institution and two other defendants in a lawsuit he filed last month. Sahni, who was ousted from the Costa Mesa savings institution in February, 1985, when regulators declared it insolvent and seized control, claims that the law firm of Pettit & Martin has a conflict of interest in the case.
BUSINESS
October 29, 1987 | JAMES S. GRANELLI
Ranbir S. Sahni, the ousted chairman of American Diversified Savings Bank, on Wednesday appealed an Orange County Superior Court ruling that had transferred control of 41 real estate limited partnerships from him to the Costa Mesa-based S&L. Earlier this month, Sahni seized control of the partnerships from an S&L subsidiary by declaring that the subsidiary was insolvent. A judge ruled Monday, however, that the subsidiary was not insolvent and that Sahni wrongfully took over the operations.
BUSINESS
February 21, 1986 | ROBERT HANLEY, Times Staff Writer
Less than a week after seizing American Diversified Savings Bank, federal regulators have filed a $76.6-million lawsuit against Ranbir Sahni, American Diversified's controversial majority owner and former chairman, and Lester Day, the S&L's former president, alleging that the two committed various acts of fraud and racketeering while officers of the failed S&L. The Federal Savings and Loan Insurance Corp.
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