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SBD/21/Law PoliticsPrint All
Robert Houston, a former accountant for L.A. Kings President Bruce McNall, has agreed to plead guilty to three criminal counts for his role preparing false tax returns and financial statements so that McNall could get more than $150M in loans to "shore up his deteriorating business and financial situation." The plea is expected to be entered within two weeks. Houston was accused in court papers of being part of a group of McNall officials "who for the last eight years fraudulently obtained loans by inflating McNall's income, overstating his assets and understating or omitting previous loans." Houston is the second McNall executive to agree to plead guilty within the last month and about a dozen former McNall associates are known to be negotiating pleas (Bates & Dillman, L.A. TIMES, 9/21).