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A year after CEO's ouster, palace intrigue grips Banc of California

A year ago, the story of Banc of California was of a hard-charging chief executive eager to turn a fast-growing institution into a household name — but fond of inside deals and potentially connected to a financier who has pleaded guilty to fraud.But over the last few months, lawsuits filed by several former insiders have told a different version of the tale: one in which a handful of board members at the Orange County bank ousted CEO Steven Sugarman to shield themselves from scrutiny and then ignored allegations that included improper accounting, workplace drug use and sexual misconduct.One of those lawsuits call the whole episode a “Machiavellian effort” to clean house of rivals and take over the bank. Anot ...