SEC Considering Civil Charges Against Keating: The...
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From Times Staff and Wire Reports
SEC Considering Civil Charges Against Keating: The Securities and Exchange Commission formally warned Charles H. Keating Jr. that it may charge him with violating securities laws in the sale of $250 million in junk bonds at Lincoln Savings & Loan. The SEC is one of seven government agencies to investigate or take action against the Arizona developer. Keating’s lawyer suggested that grandstanding officials, using Keating as a scapegoat, were competing for headlines as S&L; fraud-fighters.
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