February 29, 1992 |
A federal grand jury has indicted David L. Paul, the former CenTrust Savings Bank chairman, on fraud charges arising from the alleged sham purchase of $25 million in securities by BCCI, authorities said Friday. James McAdams, acting U.S. attorney for southern Florida, announced that a federal grand jury had issued the indictment against Paul, who was jailed earlier this week on contempt of court charges. The indictment listed counts of conspiracy and other crimes.
May 4, 1991 |
Former CenTrust Chairman David L. Paul, a national symbol of extravagance in the savings and loan crisis, says he's $3.5 million in debt, according to court documents released Friday. Paul, who has pleaded poverty for months, filed a personal financial statement with the Office of Thrift Supervision saying that his $4.9 million in assets are outweighed by $8.4 million in loans he must repay.
October 26, 1990 |
Companies promoting security systems have for some time been hiring as experts the very people who made careers of breaking through them. Ex-burglars advised 7-Eleven stores on anti-robbery measures; one even became a company spokesman and a Johnny Carson regular. A New York ex-thief promoted his door alarm system as the invention of a "crime expert." A Los Angeles security firm offers consumers tips from its in-house "ex-con."
October 6, 1991 |
Sen. Alan Cranston (D-Calif.) wrote a letter to the Federal Home Loan Bank Board in September, 1988, at the request of a contributor, David L. Paul, owner of CenTrust Savings Bank, the Miami-based thrift owned partly by the scandal-ridden Bank of Credit & Commerce International, according to a report published Saturday.
June 30, 1990 |
Great Western Financial agreed Friday to buy CenTrust Federal Savings Bank in Florida in the biggest taxpayer bailout yet of a savings and loan. The deal marks the end of a thrift that came to symbolize some of the worst examples of greed and gluttony in the nation's thrift debacle. Taxpayers will pick up a bill of about $1.7 billion for CenTrust. Great Western, the Beverly Hills parent of Great Western Bank, will pay $86.4 million for CenTrust's 71 branches and $5.2 billion in deposits.
June 24, 1990 |
More than 1,000 people jammed the white-marble "sky lobby" of the CenTrust Bank here Saturday, many to bid hungrily for a silver-plated piece of the wreckage from the collapse of the U.S. savings and loan industry. About 16,000 pieces of Limoges china, Baccarat crystal, first edition books and even the Tiffany ashtrays in which deposed CenTrust Chairman David L. Paul ground out his gold-tipped cigarettes were snapped up in seven hours of spirited buying.