BANKING
Former Bank Chairman Indicted: A federal grand jury in Los Angeles indicted Carl M. Rheuban, former owner and chairman of First Network Savings Bank, on 17 felony counts, including bank fraud and misapplication of savings and loan funds. Rheuban, 48, of Santa Monica, allegedly misapplied more than $27 million in funds from First Network (formerly known as Deauville Savings & Loan) and schemed to defraud other financial institutions of $3.2 million, prosecutors said. The charges carry a maximum sentence of 82 years in prison and fines of $4.25 million.
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