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BUSINESS
October 3, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Former Lincoln Savings & Loan boss Charles H. Keating Jr. won a final victory Monday before the U.S. Supreme Court, defeating attempts to reinstate his 1991 state court conviction on charges of swindling elderly investors. Without comment, the high court refused to reopen the case, leaving intact lower court rulings that Los Angeles Superior Court Judge Lance Ito had allowed a flawed prosecution.
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BUSINESS
October 3, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Former Lincoln Savings & Loan boss Charles H. Keating Jr. won a final victory Monday before the U.S. Supreme Court, defeating attempts to reinstate his 1991 state court conviction for swindling elderly investors. Without comment, the high court refused to reopen the case, leaving intact lower court rulings that Los Angeles Superior Court Judge Lance Ito had allowed a flawed prosecution.
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BUSINESS
November 6, 1990 | MICHAEL FLAGG, TIMES STAFF WRITER
A life insurance company owned by Irvine-based Lincoln Savings & Loan, the insolvent thrift now operated by federal regulators, said Monday that it had been sold for $31 million to a group of investors. American Founders Life Insurance Co. in Phoenix was acquired by a Nashville, Tenn., limited partnership called Financial Securities Fund, which bought a controlling interest, and the Riverside Group, a Jacksonville, Fla., insurance holding company.
BUSINESS
October 3, 2000 | E. SCOTT RECKARD, TIMES STAFF WRITER
Former Lincoln Savings & Loan boss Charles H. Keating Jr. won a final victory Monday before the U.S. Supreme Court, defeating attempts to reinstate his 1991 state court conviction on charges of swindling elderly investors. Without comment, the high court refused to reopen the case, leaving intact lower court rulings that Los Angeles Superior Court Judge Lance Ito had allowed a flawed prosecution.
BUSINESS
December 6, 1989 | DOUGLAS FRANTZ, TIMES STAFF WRITER
Investigators from the Justice Department and the Securities and Exchange Commission are examining links between indicted financier Michael Milken and a circle of failed and troubled savings and loans, including Lincoln Savings & Loan in Irvine, sources close to the investigations said Tuesday.
BUSINESS
October 31, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A key figure in the failure of Lincoln Savings & Loan pleaded guilty Tuesday to bank fraud and agreed to cooperate with the continuing federal investigation of the thrift's collapse 18 months ago. Ernest C. Garcia II, a 33-year-old Tucson developer, admitted that he fraudulently obtained a $30-million line of credit in a series of transactions that also helped Lincoln hide its ownership in risky desert Arizona land from regulators.
BUSINESS
September 22, 1989 | JAMES S. GRANELLI, Times Staff Writer
The state Department of Corporations was named a defendant Thursday in a lawsuit originally filed this spring on behalf of about 22,000 investors who stand to lose nearly $200 million from the collapse of American Continental Corp. In an amended complaint, the agency was accused of acting "in reckless disregard of its own internal findings" in approving the public offering of American Continental bonds, which were sold mostly through its Irvine subsidiary, Lincoln Savings & Loan.
BUSINESS
December 21, 1993 | From staff and wire reports
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.
BUSINESS
September 22, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A Los Angeles judge Friday refused to reduce the $5-million bail for Charles H. Keating Jr., saying the Phoenix businessman is a flight risk after being indicted on 42 counts of state securities fraud and other violations. Superior Court Judge Gary Klausner said Keating--pursued by creditors, regulators and prosecutors for his role in the failure of Irvine-based Lincoln Savings & Loan--has "significant reasons not to stay around."
BUSINESS
July 8, 1993 | From Staff and News Service Reports
The federal judge sentencing former Lincoln Savings & Loan operator Charles H. Keating Jr. today will have an unusual request from state prosecutors: They want Keating to finish his state sentence in a California prison before he goes to a federal penitentiary. Keating, convicted of state securities fraud in 1991 and sentenced to 10 years in prison, will face considerably more prison time today for his federal court convictions last January on 73 counts of racketeering, conspiracy and fraud.
BUSINESS
September 17, 1999 | BOB EGELKO, ASSOCIATED PRESS
Disgraced former savings and loan executive Charles Keating, released from prison earlier this year after admitting to federal fraud charges, won a federal appeals court ruling Thursday against a prosecution attempt to reinstate his state fraud convictions. In a 2-1 decision, the 9th U.S.
BUSINESS
August 7, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
In another legal victory for Charles H. Keating Jr., a federal appeals court Friday voided a $4.3-billion judgment against the former Lincoln Savings & Loan boss, ruling that the government should have given him a full trial before holding him personally liable for the collapse of his thrift. The decision overturns a 1994 ruling by a federal judge in Arizona, who ordered Keating to pay the Resolution Trust Corp.
BUSINESS
August 7, 1999 | EDMUND SANDERS, TIMES STAFF WRITER
In another legal victory for Charles H. Keating Jr., a federal appeals court on Friday voided a $4.3-billion judgment against the former Lincoln Savings & Loan boss, ruling that the government should have given him a full trial before holding him personally liable for the collapse of his thrift. The decision overturns a 1994 ruling by a federal judge in Arizona, who ordered Keating to pay Resolution Trust Corp.
CALIFORNIA | LOCAL
April 8, 1999 | JEFFREY GETTLEMAN, TIMES STAFF WRITER
She calls herself one of the "losers," one of the trusting, unsophisticated people who plowed their life savings into junk bonds sold in branches of Charles H. Keating Jr.'s savings and loan. A widow with a ninth-grade education, who grew up poor in Arkansas and still sews her own clothes, Wanda Bean lost almost every nickel her husband left her to Keating's infamous junk bond deal. On Wednesday, a place deep inside her that hasn't hurt for a while began to sting again.
NEWS
April 8, 1999 | JEFFREY GETTLEMAN, TIMES STAFF WRITER
She calls herself one of the "losers," one of the trusting, unsophisticated people who plowed their life savings into junk bonds sold in the Southern California branches of Charles H. Keating Jr.'s Irvine thrift. A widow with a ninth-grade education who grew up poor in Arkansas and still sews her own clothes, Wanda Bean lost almost every nickel her husband left her to Keating's infamous junk bond deal. On Wednesday, a place deep inside her that hasn't hurt for awhile began to sting again.
BUSINESS
June 10, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
In yet another victory for Charles H. Keating Jr., appeals judges agreed Tuesday that the former Lincoln Savings boss and his son are entitled to a new federal trial on charges of looting the thrift and swindling investors. In a 3-0 vote upholding the trial judge, the 9th U.S. Circuit Court of Appeals said federal jurors improperly learned of and discussed Keating's earlier state court conviction on similar charges. U.S.
BUSINESS
December 24, 1991 | KEVIN E. CULLINANE, TIMES STAFF WRITER
Former Lincoln Savings & Loan owner Charles H. Keating Jr. posted bail late Monday and will be released today, after a federal judge in Los Angeles had refused to lower the $300,000 bail of the former thrift owner charged with fraud and racketeering in the failed Irvine-based company, said a source close to the case. U.S. District Judge Mariana Pfaelzer also denied a motion to reduce the bail of Charles H. Keating III, who was indicted with his father and three others Dec. 12.
BUSINESS
September 25, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal thrift agency has filed a civil racketeering lawsuit against Saudi European Bank, its owner and operators, alleging that they schemed to defraud Lincoln Savings & Loan out of $18 million six years ago. The lawsuit filed by the Resolution Trust Corp. on behalf of the failed Irvine-based thrift also asserts that Charles H. Keating Jr.
BUSINESS
April 2, 1998 | From Times Staff and Wire Reports
A federal judge freed Charles H. Keating Jr. from jail Wednesday after a five-day incarceration during which his lawyer said the former Lincoln Savings & Loan operator had his stomach pumped and was placed on suicide watch after drinking shampoo. Jailed for violating the terms of his 1996 release from prison by applying for a passport, Keating inadvertently took a swig of shampoo that had been placed in a cup on his food tray several hours after his arrest last Friday, his attorney, Stephen C.
BUSINESS
March 31, 1998 | JAMES S. GRANELLI, TIMES STAFF WRITER
In another turn of events for Charles H. Keating Jr., the former Lincoln Savings & Loan operator is fighting to get out of prison again, this time after he allegedly violated bail conditions by seeking a passport. The former Arizona developer, whose Irvine thrift crashed nine years ago in a heap of bad loans, speculative deals and what authorities charge was outright fraud, asked Monday that his $300,000 bond--and his freedom--be reinstated. U.S. District Judge Mariana R.
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