OTHER NEWS - Dec. 19, 1992

Keating Prosecutor Gives Closing Arguments: Former Lincoln Savings owner Charles H. Keating Jr. lied to his accountants, cheated investors and bribed associates to cover up the financial troubles facing his corporate empire, a prosecutor told jurors in closing arguments at Keating’s federal racketeering trial in Los Angeles. Keating’s motivation was “greed on an absolutely staggering scale,” Assistant U.S. Atty. David Sklansky said. From February, 1984, through April, 1989, during which Keating’s Irvine-based American Continental Corp. owned Lincoln, Keating paid himself and his family more than $35 million in compensation. Keating, convicted in state court of swindling investors, is accused of 73 counts of fraud, racketeering and conspiracy in the federal case. Keating’s lawyer gives his final argument Monday.