EXCERPT:

"A federal grand jury in Birmingham, Ala., has indicted a Mission Viejo businessman on embezzlement and mail fraud counts, charging that he used $700,000 in pension assets for personal and business expenses."

OTHER POINTS:

According to the indictment, Richard T. Price used a series of loans and loan prepayment transactions to transfer the $700,000 of plan assets to the company and a parent company, from which he withdrew it for personal and business expenses.

Accused was the trustee of the company 401(k) plan.

Indictment handed down on November 8, 1995.

For complete text, contact The Los Angeles Times.