FDIC Accuses Silverado Case Figure of Lying : Finances: Bill Walters, who defaulted on $100 million in loans, is trying to escape his debts through bankruptcy court.

The Federal Deposit Insurance Corp. has accused Silverado Banking figure Bill Walters of lying when he said, in a bankruptcy filing last November, that he had no assets.

In a complaint listing 10 pages of assets that Walters allegedly hid, the FDIC petitioned federal bankruptcy court in Santa Ana to deny Walters the forgiveness of debt that a Chapter 7 bankruptcy proceeding could bring. In his bankruptcy filing, Walters said he owes $279 million.

The one-time Denver real estate mogul and former business associate of Neil Bush, the President’s son, defaulted on $100 million in loans from Silverado Banking, Savings & Loan. Last summer, Walters told a congressional committee investigating the thrift’s failure that he was broke even though he was dividing his time among a $1.9-million Newport Beach estate, a $1.8-million Indian Wells desert home and a $250,000 mobile home in Laguna Beach.

The FDIC complaint, which was filed Friday, said Walters “embarked on a series of schemes to transfer, remove and conceal his property from his numerous creditors.” Among the transfers listed are $20 million in property moved to a business associate’s bank account in the Isle of Jersey, which is in the English Channel, and $20 million in cash, real estate and other property turned over to Walters’ wife, Jacqueline.

The FDIC’s charges are similar to allegations brought by Ronald Rus and other attorneys for the court-appointed bankruptcy trustee.

“We are pleased that the full investigative powers of the FDIC have been brought in to assist in the unraveling of Mr. and Mrs. Walters’ vast financial manipulations,” Rus said.

Walters’ attorney, Nathan E. Jones of San Diego, said Wednesday that the FDIC’s complaint was “not unexpected, but it is full of things that are just plain false.”

For example, the FDIC contends that Walters was technically insolvent after he transferred money to his new wife to fulfill a prenuptial agreement in 1986 and that the agreement was merely a front to hide the money from Walters’ creditors. However, Jones said, the FDIC also has records showing that in the same year Walters paid $9 million on a loan from Chase Manhattan Bank.

Bankruptcy Trustee R. Neil Rodgers has sued Jacqueline Walters to recover the assets placed in her name.