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July 15, 1987


By CBR Staff Writer

Former Intelsat director general Richard Colino and two associates have entered guilty pleas to charges that he defrauded Intelsat of $5m and that they conspired with him to defraud on building contracts: Colino faces a $50m damages suit from Intelsat and has filed for protection from his creditors; his former deputy, Joseph Allegret, repaid more than $1m to Intelsat in May, and is now believed to be in Venezuela; he has been helping with the inquiries, and it is not known whether he will also be charged.

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