July 27, 1991 |
A Superior Court judge agreed Friday to separate the criminal trials of former Lincoln Savings & Loan owner Charles H. Keating Jr. and his onetime top aide, Judy J. Wischer. Acting on the recommendations of both defense attorneys and the prosecutors, Judge Lance A. Ito ordered that Wischer's trial follow Keating's.
October 25, 1994 |
Federal judge in Los Angeles Monday sentenced Judy J. Wischer, once the top aide to former Lincoln Savings & Loan operator Charles H. Keating Jr.,--to three years of probation and ordered her to pay $3.5 million in restitution for her role in Lincoln's collapse. Wischer's sentencing ends the long investigation and court proceedings against those responsible for the thrift industry's most notorious failure during the go-go 1980s. Lincoln's failure in 1989 is expected to cost taxpayers $3.
May 20, 1992 |
Judy J. Wischer, a onetime close associate of Charles H. Keating Jr., pleaded guilty Tuesday in a Los Angeles federal court to bank and securities fraud and has agreed to testify against the former owner of failed Lincoln Savings & Loan. Wischer, the former president of American Continental Corp., the parent company of Irvine-based Lincoln, is the highest-ranking official in the Keating empire to plead guilty in the three-year criminal investigation of the thrift's collapse.
January 30, 1992 |
Keating Arraigned in Phoenix: Charles H. Keating Jr. and two other top executives of now-defunct American Continental Corp. pleaded innocent in Phoenix to federal bankruptcy fraud and conspiracy charges. They are accused of looting almost $975,000 from the company before it filed for bankruptcy protection on April 13, 1989, in the wake of the $2.6-billion failure of its principal subsidiary, Lincoln Savings & Loan in Irvine.
November 5, 1992 |
Aide Says Keating Misled Auditors: Former American Continental President Judy Wischer testified that Charles H. Keating Jr. misled independent auditors about transactions that produced millions of dollars of profit for the company's Lincoln Savings & Loan unit. In Keating's federal criminal fraud and racketeering trial, Wischer said that she, Keating and other executives didn't tell the Arthur Young & Co.
November 6, 1992 |
Keating Aide Details Phony Deals: Charles H. Keating Jr.'s former top aide testified about how the former Lincoln Savings & Loan owner set up phony land sales, creating sham profits that helped him sell junk bonds to investors. Judy J. Wischer, former president of Keating's American Continental Corp., described 11 sham deals that supposedly generated $124 million worth of gains.