MCNALL TO FACE SENTENCING.Byline: Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Bruce McNall Bruce Patrick McNall (born April 17, 1950 in Arcadia, California) is a former American sports executive who once owned the Los Angeles Kings of the National Hockey League (NHL) and the Toronto Argonauts of the Canadian Football League , the former Kings owner who pleaded guilty to bank fraud and conspiracy more than two years ago, was expected to be sentenced today in federal court in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . McNall pleaded guilty to two counts of bank fraud and single counts of conspiracy and wire fraud in connection with a scheme to defraud six banks, one securities firm and the Kings of more than $236 million. Federal prosecutors are recommending a maximum prison sentence of eight years and restitution of $26.7 million. The actual sentence imposed by U.S. District Court Judge Richard Paez could be less, subject to his discretion. Ten other McNall associates have pleaded guilty. None have yet been sentenced. Three others were indicted INDICTED, practice. When a man is accused by a bill of indictment preferred by a grand jury, he is said to be indicted. in October 1995 and are scheduled to go to trial Feb. 4. The trial had been one of the main reasons for the delay in McNall's sentencing. McNall, however, was not going to be called as a witness, which is why the government wanted to have him sentenced. Since McNall's guilty pleas, the Kings landed in bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party and were eventually sold, superstar Wayne Gretzky was traded and the Kings haven't made the playoffs since they reached the 1993 Stanley Cup final. |
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