FEDERAL SAV. AND LOAN INS. CORP. v. MOLINARO

No. 87-6662.

889 F.2d 899 (1989)

FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION, Plaintiff-Appellee, v. John L. MOLINARO, Defendant-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided November 16, 1989.


Attorney(s) appearing for the Case

M. Jean Starcevich, Law Offices of Robert L. Mezzetti, San Jose, Cal., for defendant-appellant.

J. Michael Echevarria and Richard Fruin, Lawler, Felix & Hall, Los Angeles, Cal., for plaintiff-appellee.

Before SCHROEDER, BOOCHEVER and BEEZER, Circuit Judges.


BOOCHEVER, Circuit Judge:

John L. Molinaro (Molinaro) appeals the district court's grant of summary judgment in favor of the Federal Savings and Loan Insurance Corporation (FSLIC) for $6.4 million plus interest. FSLIC sued Molinaro and others claiming, inter alia, that Molinaro breached his fiduciary duty as a director of a federally insured savings and loan institution by diverting loan proceeds for his personal benefit. We agree that Molinaro breached his...

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