McBirney Released on Own Recognizance: Edwin T....

McBirney Released on Own Recognizance: Edwin T. McBirney III, who presided over Sunbelt Savings Assn. of Texas, had little to say as he appeared in federal court in Dallas on charges stemming from efforts to secure a $700-million loan. The judge released McBirney, 37, on his own recognizance after ordering him to surrender his passport and not travel outside Texas without permission. If convicted, McBirney could be sentenced to 85 years in prison and fined $4.25 million. Arraignment was set for July 19. McBirney was indicted on 17 counts of bank fraud, misapplication of funds, false entries and making false statements to regulators.