Advertisement
YOU ARE HERE: LAT HomeCollections

NATION : Ex-S&L Chief Hit for $30 Million

October 22, 1990|From Times Wire Services

WASHINGTON — The Office of Thrift Supervision said today that it will seek $30.8 million in restitution from David L. Paul, the former chairman of the failed CenTrust Bank of Miami.

OTS officials told a news conference that it is the second-largest amount they are seeking in a savings-and-loan case.

They said Paul's "insatiable vanity and greed" were a major factor in the failure of CenTrust, which will cost taxpayers an estimated $1.7 billion.

The thrift agency said it is serving Paul with an order demanding restitution to CenTrust and barring him from selling or transferring any assets of more than $5,000.

Advertisement
Los Angeles Times Articles
|
|
|