BANKING & FINANCE - Sept. 18, 1992
From Times Staff and Wire Reports
Second Executive Charged in Silverado Scandal: Federal investigators charged Silverado Banking, Savings & Loan Assn.’s majority stockholder with fraud, saying he misappropriated nearly $100,000 two years before the thrift failed. W. James Metz, who served as a Silverado board member, consultant and executive committee chairman, is the second senior Silverado official accused of wrongdoing. The thrift’s former chairman, Michael Wise, was indicted last week on charges of stealing $458,000. In a joint release, the FBI and the Justice Department said Metz was charged with misapplying $99,840 of Silverado funds on or around June 30, 1986. Metz faces up to five years in prison and $250,000 in fines.
