The Region - News from May 21, 1985
Former Bank of Irvine vice president Nelson Hallidy pleaded innocent to federal charges that he helped Orange County businessman W. Patrick Moriarty launder $196,000 in bank transactions to avoid Internal Revenue Service reporting requirements. Between Nov. 24, 1981, and July 1, 1982, Hallidy, 61, converted 24 checks to cash in amounts ranging from $21,600 to $50,000 and provided the money to Moriarty and two of his employees, according to a 10-count indictment returned last week. The bank was closed last year by state banking officials because it was threatened by bad loans and was immediately reopened by Security Pacific Bank. Trial was set for July 2 before U.S. District Judge Edward Rafeedie.
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