BANKING & FINANCE - June 28, 1991
From Times Staff and Wire Reports
Protesters Want Keating Trial Speedup: A support group for investors who lost $250 million in the collapse of Charles H. Keating Jr.’s Lincoln Savings & Loan held a rally in Los Angeles to plead for Keating’s speedy prosecution. The rally by the Lincoln Bondholders Support Group was outside the Criminal Courts Building, where a hearing is to be held today on whether to dismiss charges against Keating. Half the case against Keating and two former officers of his companies has been tossed out. They still face 20 securities fraud counts accusing them of duping investors about the safety of risky junk bonds issued by Lincoln’s parent company and sold mainly at Lincoln branches. Many investors were elderly people who lost their life savings.
