The Region - News from Aug. 29, 1985
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A former banker from Santa Maria was named in a 14-count indictment returned by a federal grand jury in Los Angeles for allegedly misapplying nearly $55,000 from customers of Bank of America branches in Lompoc and San Luis Obispo. Federal authorities said Pete Charles Bassett, 30, who worked in the loan and financial services departments at the branches, carried out the alleged scheme by authorizing fictitious loans, failing to credit loan fees and mishandling customer checks and money payable to the bank.
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