A federal appeals court has reinstated bank fraud charges against Long Beach developer Craig E. Caldwell.
The 9th Circuit Court of Appeals has ruled that Caldwell should face a 12-count indictment stemming from his chairmanship of the Western National Bank in Santa Ana. He held the position from 1981 until the bank was closed by federal regulators in August, 1982.
The ruling overturns a decision by U.S. District Judge James Ideman, who dismissed the charges against Caldwell on grounds that prosecutors had waited too long to file. Prosecutors argued that Caldwell had signed waivers in which he gave them permission to postpone an indictment.
Assistant U.S. Atty. Dean Dunlavey said he hopes the case will proceed to trial early next year.