John C. Ellsworth, a key figure in...

John C. Ellsworth, a key figure in a criminal investigation into the alleged misuse of $60 million in pension fund investments in Commercial Acceptance Corp., pleaded guilty to bank fraud charges. U.S. District Judge Manuel Real set April 4 for Ellsworth’s sentencing on two counts of defrauding Sanwa Bank California of $61,000. A federal indictment had accused Ellsworth of seven counts of helping another man obtain $250,000 illegally from the bank between January and March, 1987, using bad checks drawn on the Ellsworth-owned corporations. Ellsworth has been held without bail since he was arrested Jan. 8.