Vachon Save to Bail Out Boss McNall

King executive and goaltending legend Rogie Vachon, whose position in the organization has been maintained by team president Bruce McNall, had an opportunity to help his boss on Monday. Vachon agreed to post $100,000 bond for McNall, who is charged with four felony counts stemming from a federal bank fraud investigation.

McNall appeared briefly before U.S. Magistrate Judge Stephen Hillman in an arraignment Monday morning and did not enter a plea because magistrates are not allowed to accept guilty pleas.

Vachon confirmed the bail arrangement to The Times, saying he and his wife Nicole were pleased to provide assistance.

“Obviously, Nicole and I were and are good friends of his,” Vachon said. “He has been very good to me and I was very happy to help. We try to give him as much support as possible going through this. He knows we’re here for him.”

Vachon was not at the arraignment but spoke to McNall afterward. McNall, the former sole owner of the Kings, is scheduled to appear at a hearing before U.S. District Judge Richard Paez on Dec. 7, when he will plead guilty to one count of conspiracy, two counts of bank fraud and one count of wire fraud in connection with an alleged scheme to defraud six banks, a securities firm and the Kings of more than $236 million.

Vachon has until Dec. 12 to post the bond for McNall. Vachon was unwilling to discuss specifics of the deal, but those with knowledge of the case said that the court clerk will be given a security interest in Vachon’s property, meaning the government could foreclose if McNall does not show up for sentencing.

McNall and Vachon have had an enduring relationship. Long before McNall owned the Kings, he used to watch Vachon tend goal for them. Vachon became the first King player to have his number retired. His No. 30 hangs in the north end of the Forum.

Vachon spent eight seasons as the team’s general manager, and has been McNall’s assistant since June 1992. McNall gave Vachon a 10-year contract at that time, much to the ire of business associates who were upset at his generosity.

“What a friend is for is when a friend goes through a bad time,” Vachon said. “This has been tough on him.”

McNall faces a maximum of 45 years in prison and at least $1.75 million in fines, but under federal sentencing guidelines he will probably draw a lighter sentence. Assistant U.S. Attorney Peter S. Spivack said the government has agreed to recommend 9-11 years, based on an estimate of a $100-million loss.

But that amount could be whittled with significant cooperation with federal prosecutors and leniency of the judge. The McNall camp is said to be hoping to cut the term down to five years or less.

The government’s charges, made public on Nov. 14, depicted a systematic effort going back to 1984 by McNall and his associates to defraud bankers. So far, five McNall associates have been charged, with four entering guilty pleas and one more scheduled to do so soon.