BANKING & FINANCE - Dec. 21, 1992

Keating Motivated by Greed, Prosecution Says: Former Lincoln Savings owner Charles Keating Jr. lied to his accountants, cheated investors and bribed associates to cover tup the financial troubles facing his corporate empire, a prosecutor said Friday. Assistant U.S. Attorney David Sklansky told jurors in closing arguments at Keating’s federal racketeering trial that the Arizona businessman’s motivation for the deception was simple greed. “Greed. Greed on an absolutely staggering scale,” he said. Sklansky spent much of Friday afternoon in a detailed description of the alleged frauds. Keating’s lawyer, Stephen C. Neal, was to answer the charges with his final argument on Monday afternoon.