The Region - News from Nov. 13, 1985

A senior vice president of American Pacific State Bank of North Hollywood pleaded guilty to three counts of defrauding the bank out of $2.5 million between May, 1980, and August, 1983, Assistant U.S. Atty. Craig I. DeRoy said. The defendant, Fereidoon Maffi Vassegh , 49, is scheduled to be sentenced Jan. 6 before U.S. District Judge William Keller, and faces a maximum penalty of 15 years imprisonment, a $15,000 fine and restitution of the bank funds. Vassegh admitted he defrauded the bank by preparing false loans that he deposited to his own account or cashed; by placing customer time deposits in his own account, and by dipping into customer accounts for his own use, DeRoy said.