A woman who pleaded guilty to making a false statement to a federal agent about her role in obtaining a $1.8 million fraudulent loan from a failed La Jolla bank was sentenced Sept. 12 to eight months of home detention.
Laura Ortuondo, 33, of Cupertino, was placed on three years’ probation and fined $3,000 from U.S. District Court Judge Anthony Battaglia in San Diego.
Ortuondo worked for Spring Valley businessman Annand Sliuman, 33, who owned numerous companies. Sliuman pleaded guilty to bank bribery; his sentencing date was changed recently to Feb. 27, 2015.
The bank funded the $1.8 million loan after Ortuondo submitted two documents that falsely said the IRS released tax liabilities and liens on one of Sliuman’s businesses. Court records allege that Sliuman bribed an unnamed manager at La Jolla Bank in order to get the loan. So far, no other people have been charged by the U.S. attorney, a prosecutor said Sept. 12.
La Jolla Bank failed in February of 2010 and was taken over by the Federal Deposit Insurance Corporation (FDIC). The bank ran up a debt of approximately $1 billion, according to the U.S. attorney. It reopened later as One West Bank.
Court documents also say Ortuondo destroyed a personal computer that contained evidence of obstructing the investigation into the failed loan. The loan was guaranteed by the U.S. Small Business Administration.
Sliuman faces a maximum sentence of 30 years in federal prison but could receive a lesser sentence if he agrees to pay restitution of $2.15 million. He remains free on $15,000 bond.
– Neal Putnam