BANKING & FINANCE - Nov. 16, 1993
From Times Staff and Wire Reports
Knapp Sentencing Again Delayed: A federal judge postponed the sentencing of financier Charles W. Knapp to Dec. 14 because of additional legal delays. But Judge Stephen V. Wilson in Los Angeles said he is inclined to sentence Knapp to a prison term of 5 1/4 to 6 1/2 years, rather than the nine-year sentence sought by prosecutors. Knapp’s lawyers had asked that he perform community service. A jury in July convicted Knapp, a former high-flying thrift executive, of defrauding Western Savings in Arizona to obtain a $15-million loan. Prosecutors also want Knapp, who is free on bail, to pay $11.2 million in restitution--a sum they allege Western lost on the Knapp loan.
