OAK VIEW : Phillips Ordered to Pay Defense Tab

Olen B. Phillips, acquitted of most securities fraud charges after a five-month trial last year, must repay Ventura County the entire $431,000 cost of his defense beginning at a rate of $2,000 a month, a judge ruled Wednesday.

Phillips, 52, of Oak View, was ordered by Superior Court Judge Frederick A. Jones to begin the reimbursement plan on Feb. 15, with payments to increase to $4,000 a month on June 15.

The four-paragraph order concluded that Phillips, a United Airlines pilot, nets about $9,400 a month and has $40,000 in disposable income annually. Jones said he expects the salary to continue, but Phillips can seek a new court order if his circumstances change.

Phillips’ case, in which he was accused of stealing $3 million from 21 investors, involved one of the costliest criminal defenses in Ventura County history. Officials said the high cost was tied not only to attorney fees, but to accountants who were needed to analyze the massive financial records associated with the case.

Before the trial, a judge ruled that Phillips could not afford to pay for his defense. He was given a court-appointed attorney and the county paid all investigative costs, but the law allows a judge to reconsider a defendant’s financial status after the trial.

At a hearing on the issue Monday, Jones noted that his ruling is a civil judgment and may not give the county priority over any of Phillips’ other creditors.

Phillips served a 60-day jail term on his one theft conviction. He was facing a 10-year prison sentence if he had been convicted of all charges.