Ex-Worker at Bank Unit Pleads Guilty
A former accountant for a Credit Lyonnais unit pleaded guilty to helping the French bank conceal its purchase of insolvent Los Angeles-based insurer Executive Life in the 1990s, prosecutors said.
Eric Berloty, 51, who had worked at the firm’s Altus Financial division, pleaded guilty to aiding and abetting the concealment of material facts from the Federal Reserve, the U.S. attorney’s office in Los Angeles said. U.S. District Judge Dickran Tevrizian sentenced Berloty to three years’ probation and fined him $50,000.
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