Robert Lafee Citron was the longtime Treasurer-Tax Collector of Orange County, California, when it declared Chapter 9 bankruptcy on December 6,1994.
10 Facts About Robert Citron
1.
2.
Robert Citron attended the University of Southern California but did not graduate.
3.
Robert Citron ran for the elected position of Tax Collector in 1970 where he won.
4.
Three years later Orange County would merge the offices of tax collector and treasurer and this is when Robert Citron's title became Treasurer-Tax Collector.
5.
Robert Citron controlled several Orange County funds including the General Fund, the Investment Pool, and the treasury Commingled Pool.
6.
The Orange County funds, managed by Robert Citron, were worth $8 billion.
7.
Profits of the fund were excessive for a period of time and Robert Citron resorted to concealing the excess earnings.
8.
Robert Citron pleaded guilty to improperly transferring securities from the Orange County General Fund to the Orange County Treasury Commingled Pool.
9.
Robert Citron was sentenced to one year of work release and five years of supervised probation, and performed 1,000 hours of community service.
10.
Robert Citron served a year in prison, where he was allowed to work in the commissary.