BANKING

Keatings Squeezed Again: With Charles H. Keating Jr. already in prison on his 1991 state court conviction, federal prosecutors are turning their efforts toward winning a court order that will allow them to seize his assets.

They will be seeking a court order on March 22 that allows them to go after as much property under Keating’s name as they can get. They also will try to forfeit the assets of his son, Charles H. Keating III. Both were convicted last month on federal racketeering, conspiracy and fraud charges. The racketeering conviction allows prosecutors to seek forfeitures.

They don’t expect, however, to get much property from either defendant. Defense lawyer Stephen C. Neal said Keating is broke, has no assets and already faces forfeiture orders in other cases. Keating’s son already has filed for bankruptcy.

Keating, former operator of now defunct Lincoln Savings & Loan in Irvine, faces 525 years in prison and his son faces 475 years. U.S. District Judge Mariana R. Pfaelzer delayed their sentencing from March 15 to May 17 to give defense lawyers time to prepare for it.