Knapp Reportedly Under Federal Probe: Los Angeles...
From Times Staff and Wire Reports
Knapp Reportedly Under Federal Probe: Los Angeles executive Charles W. Knapp is under federal investigation for his activities in trying to build his Trafalgar Holdings Ltd. into a personal financial empire, the Wall Street Journal reported. The FBI conducted surprise raids on Knapp’s home and at least one of his offices earlier this year, the Journal said. A focus of the probe is a loan, now in default, made to a Trafalgar unit from a Phoenix thrift that later became insolvent. Knapp was forced out in 1984 as head of Financial Corp. of America and its American S&L; unit.
