June 29, 1991 |
A Superior Court judge refused Friday to dismiss securities fraud charges against former thrift owner Charles H. Keating Jr. and three others, setting the stage for the first criminal trial stemming from the failure of Lincoln Savings & Loan. Judge Lance A. Ito in Los Angeles said that enough evidence was brought before a grand jury to show that crimes were committed and that there was a "strong suspicion" that the four defendants committed those crimes.
August 3, 1991 |
An elderly woman, who allegedly lost thousands of dollars because of the failure of Lincoln Savings & Loan, provided sparks on the first day of a fraud trial of former owner Charles H. Keating when she grabbed the executive by the lapels and screamed at him to return her money. "Mr. Keating, you took all my money away," the distraught woman yelled. "What happened to my money? I can't work anymore."
October 5, 1993 |
The chief financial officer in Charles H. Keating Jr.'s real estate and thrift empire was sentenced Monday to two years in prison for his role in the 1989 collapse of Lincoln Savings & Loan. Andrew F. Ligget, who had pleaded guilty to three felony counts of misapplying $28.7 million in S&L funds, also must pay $148,000 in restitution for the interest that the Irvine thrift lost because of his actions. U.S. District Judge Mariana R.
December 21, 1993 |
Three cohorts of Charles H. Keating Jr. were put on probation Monday by federal judges who lauded them for admitting their guilt early and for helping to convict the former operator of Lincoln Savings & Loan. Raymond C. Fidel, a former president of the Irvine thrift, and Ernest C. Garcia II, an Arizona developer and major borrower, were each put on three years' probation for their roles in the nation's costliest thrift failure. Mark S.
September 14, 1993 |
Small investors in Charles H. Keating Jr.'s company won a record courtroom verdict 14 months ago, but they have since recovered barely half of the money they lost after his Lincoln Savings & Loan collapsed. Two months ago, a group of mostly elderly bondholders meeting in Sherman Oaks were so frustrated that they sent a scroll with 300 signatures to Joseph W. Cotchett Jr., their chief trial lawyer, asking when they might receive more of the $286 million that investors lost altogether.
May 10, 1990 |
A combative Charles H. Keating Jr., symbol of the savings and loan debacle to many, said Wednesday that he is broke and may lose his house. But he vowed to keep fighting the government's charges of fraud and racketeering in the collapse of Lincoln Savings & Loan. "Whether you like what I'm telling you or not, I'm telling the truth," Keating lectured a packed house at the National Press Club.