OTHER NEWS - Aug. 22, 1991

Keating Wins Court Round: Superior Court Judge Lance A. Ito ruled that former Lincoln Savings owner Charles H. Keating Jr. cannot be held accountable for bonds sold by the thrift’s parent company simply because he was the top official at the firm. Prosecutors argued that since Keating was ultimately responsible for the bond sales, he could be blamed for failing to control the bond sellers, regardless of what he knew. The ruling was a setback for the prosecution, which is seeking to convict Keating on 20 securities fraud counts stemming from the sales of bonds at Lincoln branches. The ruling came in arguments prior to jury selection, slated for next week.