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July 15, 1987

COLINO AND TWO ASSOCIATES PLEAD GUILTY TO FRAUD CHARGES

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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