LOS ANGELES COUNTY - News from Oct. 17, 1994
Spiegel Trial to Begin: Jury selection is scheduled to begin Tuesday in the federal criminal trial of Thomas Spiegel, former head of failed Columbia Savings & Loan. Spiegel, who is being tried in U.S. District Court in Los Angeles, faces 46 felony charges for allegedly looting the Beverly Hills-based thrift and could spend the rest of his life in prison if convicted on all counts. Columbia suffered huge losses in 1989-90 and was seized by regulators in 1991. The bailout could ultimately cost taxpayers more than $1 billion. Spiegel has denied the charges and remains free on $1 million bail.
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