Verdict in Fraud Case Thrown Out: U.S....
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Verdict in Fraud Case Thrown Out: U.S. District Judge Harry Hupp, in the fraud and conspiracy trial of Tustin businessman John F. Hayden, has rejected the jury’s guilty verdict on 27 fraud counts and scheduled a new trial on June 6 for the former insurance company owner. Hayden is accused of defrauding 22 banks and savings and loan associations of millions of dollars by issuing worthless loan guarantees through his now-bankrupt company, Glacier General Assurance Co. of Montana. Hupp ruled that the Justice Department had not presented sufficient evidence to convict Hayden.
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