Two of Keating’s Former Executives Kill Themselves

Two former executives of Charles Keating Jr.’s financial empire, which came to symbolize the savings and loan debacle, committed suicide last month, a newspaper reported Monday.

Former vice presidents Sheldon Weiner, 41, and George (Chip) Wischer, 46, shot themselves, the Phoenix Gazette reported. Weiner died June 16 and Wischer two days later.

Police say there were no suspicious circumstances surrounding the deaths and the Maricopa County medical examiner ruled the deaths suicides by gunshot, the Gazette said.

An attorney who represented Keating’s American Continental Corp., parent company of Lincoln Savings, told the newspaper he did not believe there was anything linking the deaths.

But the Gazette said both men had fallen on hard times after Keating’s empire collapsed.

Weiner and Wischer were among 100 defendants in a $1.2-billion lawsuit filed in 1990 by investors in American Continental.

Wischer’s former wife, Judy, was a director of Lincoln Savings & Loan and second-in-command to Keating. In 1992, she testified against Keating and pleaded guilty to banking and securities fraud.

Weiner was the president of two American Continental subsidiaries. He was found in the parking lot of a Phoenix toy store.

Wischer was found in his home by his estranged wife, Kimmberli.

Kimmberli Wischer told authorities she moved out of the house in May because of her husband’s alcoholism, addiction to prescription drugs and abusiveness. She said she went to the home at the request of Chip Wischer’s father in Kentucky, who had called her.

When Weiner died, the Gazette reported, his genealogy business closed down, leaving up to 100 employees without work or paychecks.

A colleague of Chip Wischer, who spoke on the condition of anonymity, told the Gazette the former executive had fallen on hard times.

A. Melvin McDonald, an attorney who represented American Continental and its top executives during that period, said he believes the suicides are pure coincidence. McDonald spoke with Keating about the suicides last week.