LOCAL : Attorney Calls Keating Pauper
- Share via
Lawyers asked a judge today to reduce the $5-million bail for Charles H. Keating Jr., a central figure in the nation’s saving and loan scandal, characterizing him as a pauper who won’t flee.
The former American Continental Corp. chairman sat in Superior Court with three co-defendants as attorneys argued that he would have trouble financing his defense against numerous cases stemming from the $2-billion collapse of Irvine, Calif.-based Lincoln Savings.
The 66-year-old Arizona developer surrendered to Los Angeles County prosecutors Tuesday to face a 42-count grand jury indictment, and Judge Gary Klausner surprised even prosecutors by setting the bail at $5 million.
The bail reduction hearing also sought cuts in the $1-million bails set for co-defendants Judy E. Wischer, Ray C. Fidel and Robin S. Symes.
Klausner took no immediate action on the defendants’ requests.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
More From the Los Angeles Times
Podcasts
John Orr was a renowned fire investigator who was also a prolific arsonist, and whose thinly veiled novel helped to convict him. In this episode we hear from the fire captain who first suspected him—and from Orr himself.
Madison McGhee is joined by legendary Dateline host Josh Mankiewicz and esteemed L.A. Times Reporter Richard Winton as the three of them dive into all-things Menendez Brothers, the good, the bad, and the still unknown.
NPR climate editor Sadie Babits talks about why the media has long overlooked the climate crisis, and how that’s starting to change.
