Long Prison Sentences, Fines Sought: Federal Deposit...
Long Prison Sentences, Fines Sought: Federal Deposit Insurance Corp. Chairman L. William Seidman joined the U.S. Attorney’s Office in Los Angeles in recommending long prison sentences and large fines for John L. Molinaro and Donald P. Mangano Sr., former owners of Ramona S&L.; The U.S. Attorney’s Office recommended that each man receive 55 years in jail and pay $15 million in fines and restitution for causing the collapse of the Santa Ana S&L.; Molinaro, 48, of San Jose, and Mangano, 53, of Huntington Beach, were convicted on more than 30 counts of bank fraud and conspiracy. They are to be sentenced on Feb. 5.
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