BANKING & FINANCE - April 7, 1992
Long Sentence Urged for Keating: A Los Angeles County probation officer recommended that Charles H. Keating Jr. be sentenced to a long prison term for his conviction last fall on state securities fraud. Thomas W. Aiken, in a report filed with the Los Angeles County Superior Court, said Keating needs to be punished for his “callous disregard and betrayal of trust.” The report dashed any hope that the former operator of Lincoln Savings might get independent support for a term of probation when he is sentenced Friday. Keating faces 10 years in prison and a $250,000 fine for defrauding investors in Lincoln’s parent company.
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