9 Await Sentencing in Lincoln S&L; Scandal : Courts: Keating’s son and eight other associates pleaded guilty in deals with prosecutors.
Charles H. Keating Jr. was the first of 10 defendants to be sentenced in the federal criminal case stemming from the collapse of his Lincoln Savings & Loan.
His son, Charles H. Keating III, was convicted on 65 counts of racketeering, conspiracy and fraud along with his father, and faces sentencing July 23.
Eight other Keating associates and officials of Lincoln and its parent company, American Continental Corp., pleaded guilty in deals with prosecutors. Except for son-in-law Robert M. Wurzelbacher Jr., who wouldn’t testify against his father-in-law, they hoped to avoid prison time by testifying against Keating.
Sentencing for the following is set for Oct. 4 unless otherwise noted. All charges carry a maximum term of five years.
* Judy J. Wischer, American Continental president, three counts of bank fraud and securities fraud, no sentencing date. * Mark Sauter, American Continental attorney, one count of conspiring to deceive regulators, one count of embezzlement, Oct. 18. *Wurzelbacher, American Continental senior vice president, three counts of misapplication of funds. * Andrew F. Ligget, American Continental chief financial officer, three counts of misapplication of funds. * Robin S. Symes, Lincoln chief executive, two counts of securities fraud. * Raymond C. Fidel, Lincoln president, two counts of securities fraud. * Ernest C. Garcia II, land developer and borrower, one count of bank fraud. * Bruce F. Dickson, American Continental senior vice president, one count bank fraud.
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