December 15, 1993 |
The Securities and Exchange Commission has filed charges against Charles W. Knapp and some of his former business associates, accusing them of taking part in a fraudulent scheme to raise money in the securities market for a Beverly Hills-based bank that eventually failed. The SEC action, filed Monday, was announced Tuesday as Knapp was being sentenced to 6 1/2 years in prison by a Los Angeles federal court for his role in defrauding an Arizona savings and loan.
December 15, 1993 |
Charles W. Knapp, the maverick money man who once headed the nation's largest savings and loan, was sentenced Tuesday to 6 1/2 years in prison for duping an Arizona savings and loan into lending him $15 million. Knapp, 59, was also ordered to pay $11 million in restitution--a sum prosecutors claimed was the amount Western Savings & Loan in Phoenix lost on the Knapp loan. The stiff sentence, handed down by U.S. District Judge Stephen V.
November 16, 1993 |
Knapp Sentencing Again Delayed: A federal judge postponed the sentencing of financier Charles W. Knapp to Dec. 14 because of additional legal delays. But Judge Stephen V. Wilson in Los Angeles said he is inclined to sentence Knapp to a prison term of 5 1/4 to 6 1/2 years, rather than the nine-year sentence sought by prosecutors. Knapp's lawyers had asked that he perform community service.
November 9, 1993 |
Convicted financier Charles W. Knapp should be sentenced to nine years in prison and ordered to pay $11.2 million in restitution for defrauding an Arizona thrift in 1988, federal prosecutors urged in court documents filed Monday in Los Angeles. Knapp, a high-flying thrift executive in California during the early 1980s who later tried to build an investment banking empire, was found guilty in July of lying to obtain a $15-million loan from Western Savings & Loan in Phoenix.
July 8, 1993 |
Charles W. Knapp, the financier whose business strategies led to the collapse of the nation's largest thrift in the 1980s, was found guilty Wednesday on criminal charges of lying to obtain a loan from a savings and loan in Arizona that later failed. After nearly four days of deliberations, a federal jury in Los Angeles convicted Knapp on two counts of making false statements and one count of conspiracy, but he was acquitted on a third charge of making false statements.