The State - News from Jan. 14, 1988

A former bank manager has pleaded guilty to one felony count of failure to file currency transaction reports, officials reported, ending his prosecution in a multibillion-dollar investment scheme based in Redding. According to Assistant U.S. Atty. John Panneton in Sacramento, Roger Rossell, 54, agreed to change his plea in exchange for dismissal of 36 other charges related to a scheme that defrauded more than 100 people out of more than $3 million. Rossell’s failure to file transaction reports, which are required under federal law in dealings exceeding $10,000, was part of a “pattern of activity,” Panneton said, related to the investment fraud conducted by former Redding businessman Jesse Corrales. Corrales has been sentenced to eight years in prison.