OTHER NEWS - Nov. 6, 1993
Four Accused of Defrauding Failed Bank: A federal grand jury charged four San Diego County residents with using a risky automobile-financing scheme to defraud the now-defunct Tustin institution of $10 million in the late 1980s. The indictment, filed in U.S. District Court in San Diego, alleges that Richard L. Burns, Joyce C. Burns and David W. Watt took illegal insurance commissions from Far Western. The bank failed in 1990. Rocco J. Fabiano, a former San Diego thrift executive, is charged with taking bribes of $50,000 and a 1988 BMW from Richard Burns in return for agreeing to funnel business to Far Western. Regulators closed Far Western in December.
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