A judge has thrown out criminal indictments against five former Baptist Foundation of Arizona (BFA) officials accused of defrauding investors out of millions of dollars.
Phoenix Judge Frank Falati said Sept. 12 that some evidence used in obtaining the indictments was improper and prejudicial. He returned the case to a grand jury, which likely will bring new charges.
“We anticipate re-filing the charges as soon as possible and are committed to holding the defendants accountable for their role in the demise of BFA,” Arizona Attorney General Janet Napolitano said.
Judge Edward Burke approved out-of-court settlements Sept. 13 involving Arthur Andersen and a Phoenix law firm that represented the Foundation.
William Pierre Crotts, the Foundation’s former chief executive officer; Thomas Dale Grabinski, former general counsel and vice president’ Lawrence Dwain Hoover and Harold DeWayne Friend, both former board members; and Richard Lee Rolles, an accounting consultant, had pleaded not guilty to charges handed down by a grand jury in May 2001.
The defendants faced a combined 32 charges of criminal theft, fraud and racketeering. Three other former officials pleaded guilty to reduced charges in exchange for cooperating in the investigation.
(ABP)
Share with others: