Man pleads guilty to role in royal...

Man pleads guilty to role in royal scheme

A 56-year-old Corona del Mar accountant on Monday pleaded guilty

to participating in a bogus investment scheme that siphoned more than

$45 million from hundreds of investors, federal officials said.

Richard Glenn Dunham entered his plea in a federal court in Los

Angeles where he admitted his involvement in preparing a false tax

return. He could face up to eight years in federal prison.

Officials say Dunham, an accountant and financial planner who

operated RDA Financial Corp. in Irvine, agreed to provide accounting

services and tax preparation to clients and employees of DFJ Italia,

a company that promised investors 24% annual returns on mutual funds

and claimed to be linked to an Italian royal family.

U.S. attorneys believe Dunham was approached by operators of DFJ

Italia in January of 1998 and agreed to offer accounting services and

evaluations of businesses that were prospects for investment or

purchase by DFJ Italia. Dunham also allowed the company to identify

him as a professional reference and certified public accountant for

DFJ Italia, officials said.

Dunham is scheduled to be sentenced on Oct. 18.