Keating ordered to pay $2.1 billion

Article Abstract:

Former American Continental chmn Charles H. Keating Jr was ordered by a federal jury to pay $2.1 billion of a total of $4.5 billion damages in a fraud cases. Keating was one of four co-defendants convicted of defrauding Lincoln Savings and Loan investors by selling them uninsured junk bonds.

Securities fraud

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Keating sentenced to 10 years in prison

Article Abstract:

Former Lincoln Savings and Loan Assn owner Charles H. Keating, Jr., was sentenced on Apr 10, 1992, to 10 years in prison for fraud. Accounting firm Ernst and Young and law firm Jones, Day, Reavis and Pogue agreed to pay damages.

Legal services, Officials and employees, Fraud, Jones Day

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Ernst & Young to pay $400 million

Article Abstract:

The accounting firm of Ernst and Young agreed on Nov 23, 1992, to pay a fine of $400 million to settle government claims involving the company's neglect of its duties while performing audits of insolvent savings and loans.

Accounting firms, Accounting services

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