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Insomniac CEO and ex-Coliseum official expected to post bail

March 23, 2012 |  4:10 pm

Los Angeles Coliseum
Insomniac Inc. Chief Executive Pasquale Rotella and former Los Angeles Coliseum events manager Todd DeStefano are in the process of posting bail and could be released from jail as early as Friday evening.

The two were among six indicted by the grand jury and charged with conspiracy, embezzlement and bribery. The group is accused of stealing millions from the historic stadium.

The 29-count indictment, which was unsealed Friday, caps a 13-month investigation by the district attorney's office, triggered by Los Angeles Times reports on alleged corruption involving millions of dollars in questionable transactions at one of the nation's most storied stadiums.

DOCUMENT: Read the grand jury indictment

Rotella surrendered in court Friday after returning from a business conference in Florida. DeStefano was arrested Thursday at a friend's home in Venice and has been in custody since then. Both were originally held in lieu of $1.8-million bail. But Los Angeles County Superior Court Judge Patricia Schnegg reduced the amount to $1.2 million at their attorneys' request. As part of the bail agreement, the two were ordered to remain in California and surrender their passports.

Rotella and DeStefano had to prove that the money used to post bail did not come through any alleged criminal activities related to the Coliseum.

Former Coliseum general manager Patrick Lynch and Go Ventures head Reza Gerami remain in custody, pending a Wednesday court appearance. They were both arrested Thursday. The judge entered a not guilty plea on behalf of the four defendants in court.

Former technical manager Leopold Caudillo Jr. and janitorial contractor Tony Estrada are out of the country and are now the subject of arrest warrants. No attorneys appeared on their behalf in court Friday, so it was not immediately clear when they would return.

The defendants have maintained that they did nothing wrong.


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-- Andrew Blankstein

Photo: The Los Angeles Memorial Coliseum. Credit: Mel Melcon / Los Angeles Times