Coachella Valley businessman admits to cheating NorCal bank
Coachella Valley businessman admits to cheating NorCal bank A former CEO of a La Quinta-based communications company pleaded guilty today to fraud connected to the procurement of about $5 million in loans approved based on bogus asset statements, resulting in a $3.4 million loss to a Northern California bank. Richard Loren Lewis, 67, of La Quinta admitted charges of bank fraud and making a false statement to a financial institution as part of a plea deal with the U.S. Attorney's Office. The admissions were made before U.S. District Judge John Holcomb in Riverside, who scheduled a sentencing...