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Ray C Fidel

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BUSINESS
March 12, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Former Lincoln Savings & Loan President Ray C. Fidel pleaded guilty to securities fraud Monday in U.S. District Court here in a significant case tied to a wide-ranging investigation into the $2.6-billion failure of the Irvine-based thrift. Fidel, who was once closely linked to former Lincoln owner Charles H. Keating Jr., is the first of the thrift's former executives to admit to criminal wrongdoing.
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BUSINESS
December 21, 1993 | From Times Staff and Wire Reports
Three More Sentenced in Keating Case: Cohorts of Charles H. Keating Jr. were put on probation by federal judges who lauded them for admitting their guilt early and 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, a Tucson developer and major borrower, were each put on three years probation for their roles in the nation's costliest thrift failure. Mark S.
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BUSINESS
November 6, 1991 | James S. Granelli / Times staff writer
Alleged Buying Plan: At the criminal trial last week, a former Lincoln president described Keating's unusual response to a highly critical story that appeared in Forbes magazine: Keating wanted to buy up all the magazine's copies sold near Lincoln's 29 Southern California branches. The October, 1988, story contended that the shaky financial condition of Lincoln's parent company posed a risk to small investors--mostly Lincoln customers--who were buying more than $250 million in corporate bonds.
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.
CALIFORNIA | LOCAL
September 23, 1990 | PAUL LIEBERMAN, TIMES STAFF WRITER
Three of the four defendants in the Lincoln Savings & Loan fraud case have been bailed out of jail, leaving only Charles H. Keating Jr. in custody, Los Angeles County sheriff's officials said Saturday. Judy J. Wischer, 42, Keating's former top aide at Lincoln's parent company, American Continental, was freed on $200,000 bond at 10 p.m. Friday, Sgt. Bob Olmsted said. Robin S. Symes, 37, and Ray C.
BUSINESS
March 12, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Former Lincoln Savings & Loan President Ray C. Fidel pleaded guilty to federal securities fraud charges Monday, becoming the first of the thrift's former executives to admit to criminal wrongdoing. Fidel, who was once closely linked to former Lincoln owner Charles H. Keating Jr., pleaded guilty in Los Angeles federal court. His case is tied to a wide-ranging investigation into the $2.6-billion failure of the Irvine-based thrift, and his plea could strengthen authorities' cases against Keating.
BUSINESS
March 13, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Lincoln Savings & Loan president pleaded guilty Tuesday to six counts of state securities fraud and agreed to cooperate with officials prosecuting Charles H. Keating Jr., the thrift's former owner. Ray C. Fidel, president of Irvine-based Lincoln when it failed in 1989, changed his pleas from innocent to guilty on allegations that he helped mislead investors who bought risky junk bonds at the thrift's branches.
BUSINESS
September 18, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Through nine days of testimony, the defense attorney for former Lincoln Savings & Loan owner Charles H. Keating Jr. has been driving home a major point--none of the small investors who bought bonds at Keating's thrift can link him to any fraudulent sales techniques. But prosecutors in the 20-count criminal securities fraud trial of Keating said that they will bring to the stand today one of their two star witnesses--both former Lincoln executives--to provide that missing link. Robin 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
October 6, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
With a firm voice, Charles H. Keating Jr. told a criminal court Friday that he is "absolutely not guilty" of 42 state securities fraud charges stemming from his company's bond sales at Lincoln Savings & Loan branches. Keating, former chairman of American Continental Corp., appeared relaxed and confident as he entered his not guilty plea in Los Angeles Superior Court. If convicted, the Phoenix businessman and three co-defendants could be sentenced to up to 10 years in prison.
BUSINESS
December 15, 1993 | JAMES S. GRANELLI, TIMES STAFF WRITER
Federal prosecutors are recommending lenient sentences for five former executives in Charles H. Keating Jr.'s fraud-ridden real estate and financial empire, saying the one-time associates helped convict the former operator of Lincoln Savings & Loan. The defendants include Robin S. Symes and Raymond C. Fidel, who were chairman and president, respectively, of the Irvine-based thrift before it collapsed in April, 1989. In sentencing memos filed in U.S.
BUSINESS
October 31, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Lincoln Savings & Loan president said Wednesday that he followed the dictates of lawyers and accountants--not Charles H. Keating Jr.--in determining what information could be given to small investors who bought bonds issued by Lincoln's parent company. Raymond C. Fidel also testified during Keating's securities fraud trial that he personally gave bond sellers negative information about Lincoln's parent company, American Continental Corp.
BUSINESS
October 31, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Lincoln Savings & Loan president said Wednesday that he followed the dictates of lawyers and accountants--not Charles H. Keating Jr.--in determining what information could be given to small investors who bought bonds issued by Lincoln's parent company. Raymond C. Fidel also testified at Keating's securities fraud trial that he personally provided bond sellers with negative information about Lincoln's parent company, American Continental Corp.
BUSINESS
October 30, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A former Lincoln Savings & Loan president on Tuesday described Charles H. Keating Jr. as a man who refused to acknowledge the mounting evidence that his S&L and its parent company were in serious trouble, instead pushing the sale of corporate bonds with optimistic fervor. Raymond C.
BUSINESS
October 30, 1991 | From Associated Press
Stung by restrictions on junk bond sales four months before his Lincoln Savings was seized, Charles H. Keating Jr. responded by asking, "Can we cheat?," former Lincoln President Raymond C. Fidel testified Tuesday. Keating made his comment in December, 1988, when Fidel ordered employees at Lincoln branches to stop referring customers to sellers of junk bonds issued by Keating's American Continental Corp., Lincoln's parent, Fidel said.
BUSINESS
October 29, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Lincoln Savings & Loan wanted to become the Nordstrom of banking and hired college graduates not schooled in business programs to provide the Irvine thrift with the kind of customer service associated with the upscale department store, a former president testified Monday in the securities fraud trial of Charles H. Keating Jr. Raymond C.
BUSINESS
November 20, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
The Los Angeles district attorney's office Monday filed an amended and expanded 46-count indictment alleging securities fraud against former Lincoln Savings & Loan owner Charles H. Keating Jr. and three others. The new charges were submitted to Los Angeles County Superior Court after Judge Lance A. Ito 10 days ago set aside 22 counts of the original 42-count indictment saying they either did not state a criminal offense or were vague. Deputy Dist. Atty.
BUSINESS
November 20, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
Los Angeles County prosecutors Monday filed an amended and expanded 46-count indictment alleging securities fraud against former Lincoln Savings & Loan owner Charles H. Keating Jr. and three others. The new charges were submitted to Los Angeles County Superior Court Judge Lance A. Ito 10 days after he set aside 22 counts in the original 42-count grand jury indictment. He said the 22 counts either did not state a criminal offense or were vague. Deputy Los Angeles County Dist. Atty.
BUSINESS
September 25, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
The Securities and Exchange Commission, in its first legal action stemming from the failure of Lincoln Savings & Loan, filed civil fraud charges Tuesday against three former thrift officers involved in the sale of more than $250 million in bonds issued by the S&L's parent company. The three--former Chairman Robin S. Symes, former President Ray C.
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