Edmund Reggie, a confidant of Gov. Edwin Edwards and the father-in-law of Sen. Edward Kennedy, was convicted Saturday of defrauding a savings and loan he founded 35 years ago of $3.9 million.
"I think the U.S. attorney has had me as his target for 101/2 years and he succeeded today. Score one for him," Reggie said.Reggie, 66, who is a retired city judge, was convicted of two counts of fraud in connection with two loans from Acadia Savings and Loan. Federal regulators closed the thrift in 1987.
Kenneth Comeaux, president of Acadia when the loans were made, was convicted of one count of fraud, the only charge against him.
Each count of fraud is punishable by up to five years in prison and a $5,000 fine. No sentencing date was set.
Reggie was acquitted of illegally charging a borrower $14,000 in closing costs on one of the loans. He is the father of Victoria Reggie, who married Kennedy, D-Mass., this summer.
"We're disappointed, of course," said Reggie, who was chairman emeritus of the savings and loan when the loans were made in 1985. "But we accept the verdict because it was arrived at honestly and with the best intentions."