Defendant in Swindle Hires Noted Lawyer

A Newport Beach man accused of pulling off one of the biggest swindles in Southern California history will be represented by noted Los Angeles defense lawyer Howard L. Weitzman.

Last month, Robert A. Buceta, 39, suggested that he might need publicly appointed counsel to defend him against indictments in a mail and wire fraud case. If convicted, Buceta could face up to 142 years in prison.

Weitzman appeared for Buceta in federal court Thursday. Weitzman won an acquittal for client John DeLorean on drug trafficking charges.

Buceta and his wife, Patricia L. Thibault, have pleaded not guilty to the indictment, which charges that they put together a complex fraud through which they obtained more than $70 million in loans without making down payments.

Loans Went Into Default

The funds were supposed to be used to buy apartment buildings in four states for conversion to condominiums, but little work was done, and the loans quickly went into default, grand jurors alleged.

Federal prosecutors do not know the total losses sustained by three savings and loans--two of which are in receivership--and a now-defunct county loan broker. In addition, civil judgments totaling more than $9 million have been filed against Buceta. A lawsuit against him seeks damages of more than $8 million.

Information about Buceta’s personal finances has been sought by both creditors and federal prosecutors trying to trace proceeds.