Reagan’s house in swindle counts

Press, 14 July 1982, Page 9

Reagan’s house in swindle counts

NZPA-Reuter Los Angeles A woman, aged 74. and her husband were charged yesterday with attempted grand theft in a swindle alleged to have involved President Ronald Reagan and his wife. Nancy. A nine-count complaint alleged that Ann Yarbrough had entered into an initial agreement to buy a fivebedroomed house owned by the Reagans in Pacific Palisades. California, for SUSI. 4 million (SNZI.9 million) as a lever to obtain funds from other people. Yarbrough and her husband. James, aged 60. had failed to make a SUS4OO.OOO ($540,000) initial payment for the house and the deal eventually fell through, the complaint said. The two were charged

with seven counts of grand theft, alleged to have involved SUSI2O.OOO ($160,000), one count of attempted grand theft and one of conspiring to commit grand theft.

The charge of attempted grand theft concerned the alleged fraudulent attempt to buy the Reagans’ home. The seven counts of grand theft were alleged to have involved swindles concerning friends of the Yarbroughs, a dentist and an estate agent. The Yarbroughs, released on bail of $US100)000 ($135,000) each, will be formally charged in court later this week. Prosecution officials said that the Reagans did not lose financially, but Mrs Reagan had been listed as a possible witness in any trial.