Fed. Sec. L. Rep. P 97,982, 7 Fed. R. Evid. Serv. 1357 United States of America v. Rodney H. Burreson, Ronald L. Laraneta, Thomas L. Channell, Defendants

643 F.2d 1344 Fed. Sec. L. Rep. P 97,982, 7 Fed. R. Evid. Serv. 1357 UNITED STATES of America, Plaintiff-Appellee, v. Rodney H. BURRESON, Ronald L. Laraneta, Thomas L. Channell, Defendants- Appellants. Nos. 78-1782, 78-1912 and 78-1774. United States Court of Appeals, Ninth Circuit. Argued and Submitted Sept. 16, 1980. Decided Feb. 9, 1981. As Modified on Denial of Rehearing April 1, 1981. 1 Russell J. Frackman, Los Angeles, Cal., argued for Burreson. 2 Joel Levine, Los Angeles, for Laraneta. 3 Richard L. Rosenfield, Los Angeles, for Channell. 4 Dean Allison, Asst. U. S. Atty., Los Angeles, Cal., for plaintiff-appellee. 5 Appeal from the United States District Court for the Central District of California. 6 Before TRASK and SKOPIL, Circuit Judges, and SOLOMON, * District Judge. 7 SOLOMON, District Judge. 8 Rodney Burreson, Ronald Laraneta, and Thomas Channell were indicted for various violations of the Investment Company and Investment Advisers Acts of 1940, securities fraud, and mail fraud, 15 U.S.C. §§ 80a-1 et seq. and 80b-1 et seq., 77q, 1341; and for conspiracy, 18 U.S.C. § 371 . The Investment Acts make it unlawful for the managers of mutual funds to convert…