A Chicago federal grand jury has returned a 14-count indictment against
The U.S. attorney for the Northern District of Illinois, James B. Burns,
Mr. Joutras had previously settled Securities and Exchange Commission
Mr. Burns announced the charges along with Ida L. Gillis, who heads the
Mr. Joutras is former chairman of FNW Bancorp in suburban Mount
The indictment alleges that from June 1990 through March 1991 Mr.
Neither Mr. Joutras nor his attorney, Robert Stephenson, could be
In the period in question, FNW Bancorp was discussing merger
Mr. Joutras allegedly bought more than $1 million worth of FNW and First
NBD agreed in 1991 to acquire $1.3 billion-asset FNW in a deal valued at
In 1994, Mr. Joutras paid $571,322 to settle the SEC civil charges of
Mr. Joutras will be arraigned after a federal judge is assigned to the
Each count of the indictment carries a maximum sentence, upon
Mr. Joutras was an outside director of FNW Bancorp until the retirement
He also helped organize First National Bank of Zurich, Ill., in 1976 and