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BUSINESS
June 25, 1992 | From Times Staff and Wire Reports
Former Banker Settles in Keating Lawsuit: Richard A. Fenn of New York, a former vice chairman of Saudi European Investment Corp. and senior executive at Saudi European Bank, agreed to pay an undisclosed sum to settle accusations against him in the $1.2-billion civil trial against former Lincoln Savings & Loan chief Charles H. Keating Jr. and his associates and professional advisers.
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BUSINESS
June 25, 1992 | From Times Staff and Wire Reports
Former Banker Settles in Keating Lawsuit: Richard A. Fenn of New York, a former vice chairman of Saudi European Investment Corp. and senior executive at Saudi European Bank, agreed to pay an undisclosed sum to settle accusations against him in the $1.2-billion civil trial against former Lincoln Savings & Loan chief Charles H. Keating Jr. and his associates and professional advisers.
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BUSINESS
June 7, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal appeals court in New York, in a case involving failed Lincoln Savings & Loan, ruled that a group of Saudi Arabian investors can press a racketeering and securities fraud case in this country against foreign banks and U.S. citizens. An attorney for the investors said the ruling, issued late Wednesday, could broaden the application of U.S. racketeering and securities laws to international schemes against foreign victims.
BUSINESS
June 7, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal appeals court in New York, in a case involving failed Lincoln Savings & Loan, ruled that a group of Saudi Arabian investors can press a racketeering and securities fraud case in this country against foreign banks and U.S. citizens. An attorney for the investors said the ruling, issued late Wednesday, could broaden the application of U.S. racketeering and securities laws to international schemes against foreign victims.
BUSINESS
September 25, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal thrift agency has filed a civil racketeering lawsuit against Saudi European Bank and its owner and operators, alleging that they schemed to defraud the failed Lincoln Savings & Loan out of $18 million six years ago. The lawsuit, filed by the Resolution Trust Corp. on behalf of Irvine-based Lincoln, also asserts that Charles H. Keating Jr.
BUSINESS
June 30, 1992 | From Times Staff and Wire Reports
Keating Jury Begins Deliberations: A federal jury in Tucson began deliberating in a $1.2-billion civil fraud suit that accuses Charles H. Keating Jr. and others of cheating thousands of people who invested in his savings and loan company. Jurors are to decide if the Saudi European Investment Corp., Arizona developer Conley Wolfswinkel and Continental Southern Inc. violated federal and California securities laws, federal and Arizona racketeering statutes and fraud and deceit laws.
NEWS
June 23, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
The last major defendant in the $1.2-billion securities fraud case brought by small investors in Charles H. Keating Jr.'s financial empire settled Monday for $8.5 million in cash and services, providing hope that investors can begin to get refunds by late this summer. The accounting firm of Touche, Ross & Co., now known as Deloitte & Touche, has agreed to pay $7.5 million in cash and provide $1 million worth of services to the investors. A small economic consulting firm, Lexecon Inc.
BUSINESS
July 10, 1992 | From Associated Press
Deliberations in Charles Keating Jr.'s civil fraud trial continued for a sixth day Wednesday as jurors considered what damages to assess the former Phoenix financier and whether to find three co-defendants liable for damages. The 11 jurors began weighing the evidence June 29, three days after the 3 1/2-month trial concluded, and deliberated for three days last week. They went home Wednesday without reaching a verdict. Several written questions have been passed to U.S.
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
June 17, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal judge on Tuesday dismissed a French bank from the $1.2-billion civil fraud and racketeering suit against former Lincoln Savings & Loan owner Charles H. Keating Jr. and those who helped him allegedly bilk investors. U.S. District Judge Richard M. Bilby in Tucson determined that lawyers for investors in Keating's American Continental Corp. had not proved that Societe d'Analyses et d'Etudes Bretenneau shared any blame in the nation's worst S&L failure.
BUSINESS
September 25, 1990 | JAMES S. GRANELLI, TIMES STAFF WRITER
A federal thrift agency has filed a civil racketeering lawsuit against Saudi European Bank and its owner and operators, alleging that they schemed to defraud the failed Lincoln Savings & Loan out of $18 million six years ago. The lawsuit, filed by the Resolution Trust Corp. on behalf of Irvine-based Lincoln, also asserts that Charles H. Keating Jr.
BUSINESS
June 27, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
A lawyer for small investors in now-defunct American Continental Corp. asked jurors Friday to send a message to corporate boardrooms everywhere that citizens will no longer tolerate the sort of fraud that Charles H. Keating Jr. worked on thousands who invested in his company. In closing arguments in the civil fraud and racketeering trial, Joseph W. Cotchett Jr.
CALIFORNIA | LOCAL
October 24, 1993
Small investors bought up bonds at a record pace from Lincoln Savings & Loan offices in Woodland Hills and Sherman Oaks in the late '80s. Along with others, they lost $285 million when Charles H. Keating, Jr.'s financial empire collapsed in 1989. After years of civil litigation, 17,000 people who held bonds issued by Lincoln's parent company, American Continental Corp., have recouped nearly 50% of their losses. To plead their cases, lawyers have been paid over $91 million.
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