Keating Son Hit With Support Demand : Divorce: Ex-wife of S&L; fraud figure Charles H. Keating III wants more than $75,000. He says he’s broke.

While Charles H. Keating III is appealing a federal fraud and racketeering conviction, his former wife wants him to pay more than $48,000 in back child support and $27,000 in alimony.

The Phoenix Gazette reported Sunday that in court documents Keating requested a reduction of child support payments and termination of alimony.

Krista Keating, who married Keating in 1983 and filed for divorce six years later, shares custody of their three children ages 5, 6 and 8. She said her former husband has provided no financial support and declared bankruptcy after the divorce.

Keating acknowledged in a deposition that he had not made any support payments since March, 1991. He is now remarried and has a fourth child. He would not comment on his former marriage.

A contempt hearing scheduled this week was canceled after Keating, 38, agreed to attempt to reach a resolution.

In court papers, Keating says he has no income or assets even though he made millions while working for his financier father, Charles H. Keating Jr.

The Keatings were paid lavishly by their Phoenix-based American Continental Corp. from 1984, when it purchased Irvine-based Lincoln Savings & Loan, until their empire collapsed in April, 1989. The elder Keating, 69, received $19.5 million in salary, bonuses and stock sales to the company, while his only son received $4.3 million.

Both Keatings were convicted in January on federal racketeering, conspiracy and fraud charges stemming from Lincoln’s collapse, one of the costliest in the nation. The elder Keating, already serving 10 years on a state securities fraud conviction, was sentenced to 12 years and seven months in federal prison.

The younger Keating, known as C3, was sentenced in July to eight years and one month in prison and is free on bail pending his appeal.

Krista Keating, 32, said she divorced the younger Keating after finding out about his affair with a cocktail waitress at the lavish Phoenician Resort, an extravagant Lincoln project built and operated by her former father-in-law.

She said she received the couple’s home in the divorce settlement but lost it in foreclosure when she could not afford the $3,100 monthly payments. She said she and the children live in a Phoenix home she rents from her parents.