BANKING & FINANCE - March 4, 1992
From Times Staff and Wire Reports
David Paul Pleads Innocent: The imprisoned former chairman of failed CenTrust pleaded innocent to a federal indictment charging that he manipulated bond holdings to prop up the failing Florida-based thrift while it was under regulatory scrutiny. Paul, wearing a prison-issue khaki uniform, made his first court appearance on the indictment issued Friday and his first public appearance since beginning an 18-month sentence last week for contempt of court. Meanwhile, co-defendant William Berry, former head of CenTrust’s investment division, surrendered in court, pleaded innocent and was freed on a $500,000 bond requiring only his signature. The whereabouts of Saudi businessman Ghaith Pharaon, the only other defendant in the case, are unknown.
