BANKING & FINANCE - Sept. 23, 1992

RTC Sues Developer in Lincoln Probe: The federal agency charged with cleaning up failed thrifts accused Emerald Homes of Texas and others of trying to hide more than $25 million worth of property from regulators in the federal lawsuit over the collapse of Lincoln S&L.; The Resolution Trust Corp. filed a racketeering and fraud suit against Emerald, Verit Industries of Texas and three Verit executives, including Phillip J. Polich, who also was Emerald’s managing partner. The lawsuit accuses Emerald of trying to hide its assets so the RTC wouldn’t try to recover them in its pending $2.7-billion racketeering suit against former Lincoln owner Charles H. Keating Jr. and others, including Emerald.