A summary of Southern California-related business litigation developments during the past week.

Accountant Admits Involvement in Loan Fraud: A certified public accountant pleaded guilty to charges that he conspired to defraud the government in connection with a $9.5-million “straw loan” between CB Financial Corp. in Oklahoma and the now-defunct Orange County-based Consolidated Savings Bank. Phil G. Gilbert was an executive vice president of Consolidated Savings Bank when the loan was executed in 1985. To circumvent a lending limitation to a Texas partnership in which the thrift’s sole shareholder had a financial interest, Consolidated transferred the money through C. B. Financial to the partnership, falsifying loan records to conceal the actual transfer from federal regulators. Gilbert faces a maximum sentence of five years and a fine of $250,000. The collapse of Consolidated is considered a top-priority investigation by federal authorities. (Case No. 90-808. Plea Entered Nov. 6)