Advertisement
YOU ARE HERE: LAT HomeCollectionsRobert L Citron
IN THE NEWS

Robert L Citron

FEATURED ARTICLES
CALIFORNIA | LOCAL
April 22, 1994 | JEFF BRAZIL and MARK PLATTE, TIMES STAFF WRITERS
Acknowledging that recent controversy surrounding his aggressive investment tactics has been painful to him and his wife, County Treasurer Robert L. Citron said Thursday that this will be his last campaign for the job he has held since 1970. "This will be my last term," the 69-year-old Citron said in an interview.
ARTICLES BY DATE
BUSINESS
January 19, 2013 | By E. Scott Reckard, Los Angeles Times
Eighteen years after Orange County crashed into the largest municipal bankruptcy, with a $1.6-billion trading loss, the collapse remains the leading example of foolhardy investments, Wall Street greed and lazy government supervision. That is an enduring legacy of Robert L. Citron, the soft-spoken but high-rolling former treasurer who died this week at age 87. His legacy, though, also includes the state Legislature's subsequent overhaul of investment rules, which were tightened to prevent budget-strapped local governments from ever becoming so reckless again.
Advertisement
NEWS
April 2, 1994 | GEBE MARTINEZ and KEVIN JOHNSON, TIMES STAFF WRITERS
It was expected to be just another sleepy election year for Orange County Treasurer-Tax Collector Robert L. Citron. The last time he had an opponent was 24 years ago when he was first elected to the low-key post. The most recent political fund-raiser Citron held was eight years ago, when there were whispers of an opponent who never materialized. In these days of high-finance politics, holding fund-raisers is just not his style. But suddenly, Citron, whose office handled 1.
BUSINESS
October 23, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
In a decision that severely limits Orange County's chances to recover more bankruptcy losses, a judge ruled Thursday that former county Treasurer Robert L. Citron had legal authority to make the high-risk bond investments that caused the debacle. In lawsuits against former brokers and other professionals, the county contended the investments violated the California Constitution and state laws.
NEWS
January 16, 1995 | ERIC BAILEY, TIMES STAFF WRITER
There's no Ollie North and it's unlikely to involve the high drama of Iran-Contra, but in matters of municipal finance this hearing promises to be big--and steeped in intrigue. A special state Senate committee Tuesday will have a daylong session here that will for the first time bring together for questioning the key players in Orange County's financial debacle. The indisputable headliner is Robert L.
BUSINESS
January 16, 1995 | Times Staff and Wire Reports
Key Figures in Bond Crisis to Testify: Former Orange County Treasurer and Tax Collector Robert L. Citron is expected to make his first public comments about the collapse of the investment pool he managed when he testifies Tuesday before a special legislative committee in Sacramento looking into the county's fiscal fiasco. Citron, 69, has remained virtually secluded in his Santa Ana home since he resigned Dec.
NEWS
February 18, 1995
Orange County officials have notified the Hartford Insurance Group that it intends to file a claim under a $1-million "crime bond" that includes "public employee dishonesty" coverage. Though it has not yet formally submitted a claim, County Risk Manager Tom Beckett said Friday that the county will argue that former County Treasurer-Tax Collector Robert L. Citron "failed to faithfully perform his duties."
NEWS
January 17, 1995
Orange County officials--including former Treasurer-Tax Collector Robert L. Citron--will appear at today's hearing before the state Senate Special Committee on Local Government Investments. Here's the schedule of topics and speakers: 9-9:15 a.m.--Opening Statements * Sen. Lucy Killea (I-San Diego) * Sen. William A. Craven (R-Oceanside) 9:15-11 a.m.--Orange County Treasurer's Practices * Robert L.
CALIFORNIA | LOCAL
January 18, 1996
Los Angeles Superior Court Judge J. Stephen Czuleger has been appointed to handle the sentencing of former Orange County Treasurer-Tax Collector Robert L. Citron for his felony convictions, according to an announcement this week from Orange County Superior Court. Citron, who pleaded guilty in April to six felonies stemming from the December 1994 bankruptcy, is scheduled to be sentenced Feb. 23. He faces up to 14 years in prison.
CALIFORNIA | LOCAL
January 14, 1994
Orange County Treasurer-Tax Collector Robert L. Citron, whose management of government revenues in lean fiscal times has won him praise from officials, said Thursday that he will seek a seventh term in office. In a written notice announcing his reelection bid, Citron, 68, stated that investments made by his office had generated $344 million for the county last year.
CALIFORNIA | LOCAL
August 2, 1998 | SHELBY GRAD and JEAN O. PASCO, TIMES STAFF WRITERS
A top Merrill Lynch trader and other company officials worked behind the scenes during Robert L. Citron's bitter 1994 election to help the embattled treasurer devise campaign tactics and deflect questions about his risky investment practices, new documents suggest.
NEWS
July 26, 1998 | DAVAN MAHARAJ and SHELBY GRAD, TIMES STAFF WRITERS
Long before Robert L. Citron became Merrill Lynch's single largest client, the Wall Street giant courted Orange County's treasurer with a series of sweet deals. It was a seven-year affair, filled with enticements of lucrative, can't-lose investments aimed at winning the county's multibillion-dollar investment account. And it ended in a bitter separation and ultimately the nation's largest municipal bankruptcy.
BUSINESS
July 25, 1998 | JEAN O. PASCO and E. SCOTT RECKARD, TIMES STAFF WRITERS
The current head of Merrill Lynch & Co. not only knew of the high investment risks Orange County was taking two years before its bankruptcy, he also helped devise a company plan for dealing with then-Treasurer Robert L. Citron, according to sworn depositions made public this week.
NEWS
July 24, 1998 | MICHAEL G. WAGNER and E. SCOTT RECKARD and SHELBY GRAD, TIMES STAFF WRITERS
For two years before Orange County went bankrupt, Merrill Lynch & Co. officials sharply disagreed among themselves whether to let then-Treasurer Robert L. Citron continue an all-or-nothing strategy of betting on the movement of U.S. interest rates, according to thousands of pages of sworn testimony released this week. But despite the internal debate that raged within Merrill Lynch & Co.
NEWS
July 23, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
With the benefit of hindsight and psychotherapy, former Orange County Treasurer Robert L. Citron testified he believes his mental deterioration began as early as 1989--five full years before his investments toppled the county into bankruptcy. Indeed, Citron--once lauded as a genius, then disgraced when his treasury lost $1.6 billion--links brain disease diagnosed by his doctors to the very moment he began the investments that proved so foolish, four years before the collapse.
NEWS
July 23, 1998 | MICHAEL G. WAGNER and DAVAN MAHARAJ, TIMES STAFF WRITERS
The two central figures in the Orange County bankruptcy who saddled the county with billions of dollars in risky securities admitted in lengthy depositions released Wednesday that each knew little about municipal finance. In fact, Merrill Lynch super-salesman Michael G. Stamenson, who received daily reports of how much cash was available for investment from the county, told attorneys flatly, "I'm not an expert in municipal finance." And former county Treasurer- Tax Collector Robert L.
CALIFORNIA | LOCAL
September 12, 1996 | DAVAN MAHARAJ, TIMES STAFF WRITER
Former County Treasurer Robert L. Citron, who pleaded guilty to six counts of securities fraud and misappropriation of public funds, will have to wait until November to learn whether he will serve time in jail. Judge J. Stephen Czuleger indicated that Citron will learn his fate after a two-day sentencing hearing scheduled for Nov. 18-19. Citron's attorney, David W. Wiechert, has indicated that he plans to call several witnesses to testify on his client's behalf.
NEWS
November 29, 1995 | DAVAN MAHARAJ, TIMES STAFF WRITER
Robert L. Citron may have lost $1.7 billion belonging to Orange County taxpayers, but the former treasurer now wants them to pay $4,500 for what he contends is a 25-year-old debt. Citron filed a creditor's claim in U.S. Bankruptcy Court this week, asserting that the county never paid him for unused sick leave he accrued as a county employee before he was elected tax collector in 1971.
BUSINESS
May 9, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
A brokerage that Orange County sued over its massive bankruptcy settled the case Friday for $52.5 million, breaking ranks with 19 other Wall Street firms. County leaders predicted more major settlements will follow their agreement with Credit Suisse First Boston. The brokerage and others were accused of lending former county Treasurer Robert L. Citron so much money to pour into risky securities that they violated the law.
BUSINESS
May 9, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
A brokerage that Orange County sued over its staggering bankruptcy settled the case Friday for $52.5 million, breaking ranks with 19 other Wall Street firms. County leaders predicted more major settlements will follow their agreement with the firm, Credit Suisse First Boston. The brokerage and others were accused of lending former county Treasurer-Tax Collector Robert L. Citron so much money to pour into risky securities that they violated the law.
Los Angeles Times Articles
|