Nine Others Still Face Sentencing in Lincoln Scandal With PM-Keating Sentencing
Undated (AP) _ Charles Keating Jr. was the first of 10 defendants to be sentenced in the federal criminal case stemming from the collapse of his Lincoln Savings.
His son, Charles Keating III, was convicted of 65 counts of fraud, racketeering and conspiracy, and faces sentencing July 23.
Eight other Keating associates and officials of Lincoln and its parent American Continental Corp. pleaded guilty in deals with prosecutors, hoping to avoid prison time. Each of the charges carries a maximum sentence of five years:
- Judy J. Wischer, ACC president, three counts of bank fraud and securities fraud, no sentencing date.
- Robert M. Wurzelbacher Jr., ACC senior vice president and Keating son-in- law, three counts of misapplication of funds, Oct. 4.
- Andrew F. Ligget, ACC chief financial officer, three counts of misapplication of funds, Oct. 4.
- Robin S. Symes, Lincoln chief executive, two counts of securities fraud, Oct. 4.
- Raymond C. Fidel, Lincoln president, two counts of securities fraud, Oct. 4.
- Mark Sauter, ACC attorney, one count conspiring to deceive regulators, one count embezzlement, Oct. 18.
- Ernest C. Garcia II, land developer, one count bank fraud, Oct. 4.
- Bruce F. Dickson, ACC senior vice president, one count bank fraud, Oct. 4.