Ferrante Judge Hears Closing Arguments
Closing arguments began Tuesday in Los Angeles federal court in a criminal case against former Consolidated Savings Bank owner Robert A. Ferrante and five associates. Earlier this month, prosecutors dropped 11 of 14 criminal counts against Ferrante that related to a series of loans that the now-defunct Irvine thrift made to Pyrotronics Inc. in Anaheim.
Ferrante is still facing charges that he allegedly helped funnel Consolidated loan proceeds through a third party in order to benefit himself. Ferrante defense attorney Brian Lysaght said in an interview Tuesday that he intended to question the credibility of the government’s witnesses, saying there were “many felon witnesses who have told many different stories over time.”
The Ferrante case will be decided by U.S. District Judge Mariana R. Pfaelzer instead of by jury. Pfaelzer is expected to begin deliberating today.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
