November 5, 1992 |
Charles H. Keating Jr.'s top aide testified Wednesday that she misled independent auditors about transactions that produced millions of dollars in profits for Lincoln Savings & Loan and its parent company, American Continental Corp. Former American Continental President Judy Wischer told jurors in the federal criminal fraud and racketeering trial of Keating and his son that she, Keating and other executives didn't tell the Arthur Young & Co.
November 1, 1992 |
Like a recurring public nightmare, Charles H. Keating Jr. goes to court again. This time, the former Lincoln Savings & Loan operator, who became the symbol of arrogance and greed in the scandal-scarred thrift industry, faces two federal indictments charging him with 73 counts of fraud, conspiracy and racketeering. Testimony in the trial of Keating and his son, Charles H. Keating III, is expected to get under way this week.
October 22, 1992 |
A federal judge in Tucson on Wednesday slashed by 64% July's $4.1 billion in jury awards against former Lincoln Savings & Loan owner Charles H. Keating Jr. and two others. In reducing the total award to nearly $1.5 billion, U.S. District Judge Richard M. Bilby said the jury had expressed its anger over a fraud that bilked $288.7 million from small investors in the Irvine thrift's parent company, American Continental Corp. As part of his order, the judge cut in half the $1.
September 23, 1992 |
The federal agency charged with cleaning up failed thrifts accused a developer funded by Lincoln Savings & Loan of hiding assets to avoid paying a possible judgment or settlement in the government's pending $2.7-billion fraud and racketeering lawsuit. The Resolution Trust Corp. asserts in a new lawsuit, filed in U.S. District Court in Phoenix late Monday, that Emerald Homes Inc.