OTHER NEWS - April 28, 1994
From Times Staff and Wire Reports
Judge Orders Keating to Pay Another $4.3 Billion: The former head of Lincoln Savings & Loan--already serving a 12 1/2-year prison sentence and under orders to pay $2.5 billion in damages stemming from the thrift’s collapse--faces the latest judgment in a case brought by the Resolution Trust Corp. The RTC accused Charles Keating Jr. of converting Lincoln and its parent, Phoenix-based American Continental Corp., into a gigantic racketeering conspiracy. U.S. District Judge Richard Bilby entered the judgment in Tucson, Ariz., last week. Keating’s lawyer said the sum was uncollectable.
