Court Upholds L.A. Developer Goland’s Conviction

A Los Angeles-area developer’s conviction for concealing a plan to take over a small savings and loan was upheld Wednesday by a federal appeals court.

Michael R. Goland of Woodland Hills was sentenced to two years in prison and fined $6,000 in March, 1991, for conspiracy and making false statements to a government agency. He has remained free on bail during his appeal.

The U.S. 9th Circuit Court of Appeals, in a 3-0 ruling, upheld the convictions of Goland and a construction company executive, Clifton A. Sherwood. Sherwood was fined $10,000 and placed on probation.

Goland was convicted of filing false documents with the government to hide his role in the 1986 takeover of Viking Savings & Loan in Santa Monica. Federal regulators stripped him of his control of Viking in 1988. Viking was merged with another lender at the government’s request in 1989.

Prosecutors said Goland, believing regulators would not approve a purchase in his name, set up Sherwood and other friends and associates to pose as investors with $1.1 million of his money. Of that sum, prosecutors said, Goland borrowed $900,000 from state Sen. Alan Robbins (D-Van Nuys).

Robbins, who was not charged in the case, was not alleged to have known of Goland’s purposes.