Advertisement
YOU ARE HERE: LAT HomeCollectionsRichard L Burns
IN THE NEWS

Richard L Burns

FEATURED ARTICLES
BUSINESS
December 15, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Far Western Bank, once Orange County's biggest bank, was closed Friday by state banking regulators, who seized the institution as mounting losses threaten to wipe out its capital. The State Banking Department found that Far Western, which had relied almost totally on risky car loans, had lost $13.7 million so far this year and had little more than $1 million left in capital.
ARTICLES BY DATE
BUSINESS
December 15, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Far Western Bank, once Orange County's biggest bank, was closed Friday by state banking regulators, who seized the institution as mounting losses threaten to wipe out its capital. The State Banking Department found that Far Western, which had relied almost totally on risky car loans, had lost $13.7 million so far this year and had little more than $1 million left in capital.
Advertisement
BUSINESS
November 6, 1993 | From Times Staff and Wire Reports
Four Accused of Defrauding Failed Bank: A federal grand jury charged four San Diego County residents with using a risky automobile-financing scheme to defraud the now-defunct Tustin institution of $10 million in the late 1980s. The indictment, filed in U.S. District Court in San Diego, alleges that Richard L. Burns, Joyce C. Burns and David W. Watt took illegal insurance commissions from Far Western. The bank failed in 1990. Rocco J.
BUSINESS
March 18, 1986 | Bill Ritter
Two of the owners of Great Pacific Hotels, the local hotel owner and management company, are quietly shopping their Dana Inn and La Jolla Village Inn properties. Word from hotel and real estate industry sources is that developers Henry A. Gotthelf and Nevins McBride are asking $16 million for each property--a figure considered high by comparison to similar facilities, area hoteliers maintain. The owners are simply "testing the waters," one source familiar with the properties said.
BUSINESS
June 20, 1985 | BILL RITTER, San Diego County Business Editor
Brunswick Corp. said Wednesday that is has bought Deposition Technology's advanced technology division, which sells its thin-metal film application process to military and aerospace firms, for an undisclosed price. The division will become part of Skokie, Ill.-based Brunswick's defense division, the second largest of Brunswick's eight divisions.
BUSINESS
March 9, 1991 | James S. Granelli, Times staff writer
In the mid-'80s, the Bank of San Clemente was in trouble and looking for a buyer to put some new capital into the bank. It found one, but not before dodging two "bullets," said its president, Michael Dunahee. The first bullet, Dunahee said, was San Diego businessman Richard L. Burns. The second was Michael R. Goland, a former Woodland Hills developer who was convicted Tuesday of conspiring to secretly take over a Santa Monica thrift.
BUSINESS
November 6, 1993 | GREG JOHNSON, TIMES STAFF WRITER
A federal grand jury on Friday charged four San Diego County residents with using a risky automobile-financing scheme to defraud Far Western Bank, a now-defunct Tustin institution, of $10 million during the late 1980s. The indictment, filed in U.S. District Court in San Diego, alleges that Rancho Santa Fe residents Richard L. Burns, Joyce C. Burns and David W. Watt used the scheme to take illegal insurance commissions from Far Western. The bank, once Orange County's largest, failed in 1990.
BUSINESS
March 12, 1986 | BILL RITTER, San Diego County Business Editor
Fourteen former officers and directors of collapsed Nucorp Energy will pay $41 million to settle scores of claims by former shareholders, the federal magistrate overseeing the settlement negotiations confirmed Tuesday. An agreement in principle was reached Friday and a formal document is expected to be signed "in the next few days," according to U.S. Magistrate Harry McCue. The complicated agreement has been hammered out over the past 18 months, McCue said.
BUSINESS
December 24, 1985 | BILL RITTER
U.S. District Judge J. Lawrence Irving's words were tougher than his deeds last week, as he found that former Nucorp Energy Chairman Richard L. Burns had defrauded investors and creditors of his oil and gas company. Irving ruled in favor of the Securities and Exchange Commission, which had filed a civil suit against Burns last year. But the only penalty was a permanent injunction prohibiting Burns from violating SEC regulations in the future. No criminal or financial penalties were assessed.
BUSINESS
March 12, 1986 | BILL RITTER, San Diego County Business Editor
Fourteen former officers and directors of collapsed Nucorp Energy will pay $41 million to settle scores of claims by former shareholders, the federal magistrate overseeing the settlement negotiations confirmed Tuesday. An agreement in principle was reached Friday and a formal document is expected to be signed in the next few days, according to U.S. Magistrate Harry McCue. The complicated agreement has been negotiated over the last 18 months, McCue said.
REAL ESTATE
August 21, 1988 | RUTH RYON, Times Staff Writer
"The largest single-family home sale" in the history of Montecito, that ritzy Santa Barbara County enclave: That's how Cecelia Waeschle, associate manager of Rodeo Realty, describes the $6-million all-cash deal for a 17-acre property with a 17-room villa inspired by one of the Pope's residences north of Rome. Known as Las Tejas ("The Tiles," for the 8,500 tiles on its roof), the original house, a Spanish villa, was completed in 1894 by architects Francis W.
Los Angeles Times Articles
|