BANKING & FINANCE - July 28, 1993
From Times Staff and Wire Reports
Keating Ordered to Forfeit $265 Million: A Los Angeles federal judge ordered Charles Keating Jr. to forfeit the money in the Lincoln Savings fraud case. Keating’s lawyer, Scott Devereaux, said he will appeal the order, which allows the government to seize any of Keating’s assets it can find. Keating, 69, said he is broke. His assets include nearly $6 million in IOUs from Keating’s family and associates, said Joseph Cotchett, an attorney in a lawsuit brought by Lincoln depositors and others who claim they were duped into buying risky bonds at Lincoln branches.
