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Jack Atchison

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BUSINESS
June 28, 1990 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
State Atty. Gen. John K. Van de Kamp filed suit Wednesday against Arthur Young & Co., charging that the accounting firm helped defraud thousands of investors who bought more than $250 million worth of American Continental Corp. bonds. The bonds are now worthless, and American Continental has filed for bankruptcy protection. Arthur Young was the company's independent auditor and has since merged with Ernst & Whinney to become Ernst & Young. Also named in the suit were Charles H. Keating Jr.
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BUSINESS
June 28, 1990 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
State Atty. Gen. John K. Van de Kamp filed suit Wednesday against Arthur Young & Co., charging that the accounting firm helped defraud thousands of investors who bought more than $250 million worth of American Continental Corp. bonds. The bonds are now worthless, and American Continental has filed for bankruptcy protection. Arthur Young was the company's independent auditor and has since merged with Ernst & Whinney to become Ernst & Young. Also named in the suit were Charles H. Keating Jr.
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BUSINESS
July 15, 1992 | From Times Staff and Wire Reports
Ernst & Young Settles Keating-Related Complaint: Ernst & Young agreed to pay $1.6 million to settle Arizona administrative charges that it helped Charles H. Keating Jr. deceive the government about the health of his savings and loan. The California state Board of Accounting also suspended for four years the license of Jack D. Atchison, a former Ernst & Young partner said to have helped persuade five senators to intervene with federal regulators on Keating's behalf.
NEWS
June 27, 1990 | From Associated Press
The State of California today sued Lincoln Savings & Loan chief Charles H. Keating Jr. for alleged fraud in the sale of $250 million in now-worthless junk bonds. The accounting company that backed claims about the bonds' safety was also named as a defendant. Atty. Gen. John K. Van de Kamp said the defendants include Jack Atchison, the employee of the Arthur Young & Co. accounting firm who handled the account of American Continental Corp., Lincoln's parent company.
BUSINESS
March 11, 1989 | JAMES S. GRANELLI, Times Staff Writer
Former congressman John Rousselot and four executives of Lincoln Savings & Loan and its Phoenix parent were identified Friday as the new group of investors who have tentatively agreed to acquire the Irvine-based S&L. The group already has raised the $50 million needed to be added to Lincoln's capital base as insurance against losses, Rousselot said in an interview from Los Angeles International Airport. He maintains homes in a Washington suburb and in San Gabriel.
NEWS
December 13, 1991 | DOUGLAS FRANTZ, TIMES STAFF WRITER
The Securities and Exchange Commission filed a lawsuit Thursday accusing Charles H. Keating Jr. and nine others of securities fraud in a series of schemes to inflate the profits of Lincoln Savings & Loan and its parent company. Among the civil charges are allegations that Keating earned $7.5 million through insider trading in the shares of Lincoln's parent company, American Continental Corp.
BUSINESS
March 11, 1989 | JAMES S. GRANELLI, Times Staff Writer
Former Congressman John Rousselot and four executives of Lincoln Savings & Loan and its parent company have reached a tentative agreement to buy Lincoln, which is based in Irvine. Though the purchase price was not disclosed, the tentative agreement is similar to another bidder's $288.75 million deal that expired at the end of February, said Rousselot, a Republican who represented San Gabriel.
BUSINESS
January 10, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
The federal government will name the Ernst & Young accounting firm and a major New York law firm as new defendants in its $1.1-billion, civil racketeering lawsuit against former savings and loan owner Charles H. Keating Jr., a government source said Wednesday. The amended complaint, which will name at least six new defendants, is expected to be filed by the Resolution Trust Court in federal court in Phoenix within two weeks, according to the source, who asked not to be identified.
BUSINESS
January 10, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
The federal government will name the Ernst & Young accounting firm and a major New York law firm as new defendants in its $1.1-billion civil racketeering lawsuit against former savings and loan owner Charles H. Keating Jr., a government source said Wednesday. The amended complaint, which will name at least six new defendants, is expected to be filed by the Resolution Trust Corp. in federal court in Phoenix within two weeks, said the source, who asked not to be identified.
BUSINESS
March 18, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
The accounting firm of Touche, Ross & Co. never joined Charles H. Keating Jr. and "his merry band of thieves" in conspiring to loot Lincoln Savings & Loan, a lawyer for the accounting firm told a federal court jury Tuesday. Touche, now called Deloitte & Touche, is a "scapegoat, someone to blame," for the 1989 collapse of the Irvine thrift and its parent company, American Continental Corp., John T.
NEWS
November 24, 1992 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Ernst & Young, the nation's second-largest accounting firm, on Monday paid the federal government a record $400 million to settle claims that the firm's auditors failed to warn of disastrous financial problems that caused some of the nation's biggest thrift failures.
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