ORANGE COUNTY IN BANKRUPTCY : Key Players in the Bond Crisis

State and federal investigators, from the U.S. Securities and Exchange Commission to the Orange County Grand Jury, continue to investigate the county’s financial debacle. Here is a rundown of some key individuals in the crisis:

Robert L. Citron: The longtime treasurer-tax collector has already pleaded guilty to six felonies. He faces a maximum 14 years in state prison and a $10-million fine. But his early plea and cooperation are expected to keep him out of prison and might lead to criminal charges against others.

Ernie Schneider: Fired as the county administrative officer in the midst of the bankruptcy crisis. Has testified before the Orange County Grand Jury and the SEC, but says he is not a target of the criminal investigations. Said to be enjoying surfing during his time off.

Robert L. Austin: Deputy county counsel who worked closely with the treasurer’s office in recent years. Signed off on disclosure documents that Citron has admitted contained lies. He has largely stayed mum during the crisis. Still working for the county.

Terry C. Andrus: County’s top attorney. Agreed to step down when his contract ended in March, but remains on the job because officials can’t find a replacement.

Steve E. Lewis: As auditor-controller signed off on illegal transfers of money within Citron’s investment pool. Initially praised for raising warnings about Citron’s risky investments, but later chastised for not sounding the alarm loudly enough. Has caught ire of County Chief Executive Officer William J. Popejoy and the Board of Supervisors, which moved last month to reduce his powers. Spent two days testifying before the SEC last week.

Eileen T. Walsh: Demoted as finance director during the crisis. Now works in the waste management department. Has testified extensively before the grand jury and SEC but believes she is not a target of any criminal probe.

Roger R. Stanton: One of three supervisors in office when the crisis broke. First official to face a recall petition. Was also criticized for his close relationship to bond underwriters, who contributed heavily to his campaigns. Some who testified before the SEC say investigators asked a number of questions about Stanton and his relationship with dealers and brokers.

Gaddi H. Vasquez: Current chairman of the Board of Supervisors, was also in office when the crisis broke. Faces an election challenge from Assemblyman Mickey Conroy (R-Orange). Expected to testify before the SEC later this month.

William G. Steiner: Third supervisor in office when the crisis broke. Expected to testify before the SEC on May 31.

Jean Costanza: Private attorney who served as the county’s bond counsel, signing off on all disclosure statements. Hired consultants last fall to investigate the failing investment fund and perhaps knew most about its imminent collapse.

Michael G. Stamenson: Salesman for Merrill Lynch & Co. who handled most of the county’s business. Was subpoenaed by the SEC. Some who have appeared before the SEC have been asked about their relationship with Stamenson and other underwriters and brokers.

Jeff Leifer: Financial consultant on many county bond deals. Was subpoenaed by the SEC and is the subject of intense interest by federal investigators.

Source: Times reports