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Charles H Keating Jr has been the focus of criminal investigations by the Federal Bureau of Investigation the Internal Revenue Service the Justice Department The Securities and Exchange Commission and the House Banking Committee for a six-year shadow of the nations biggest savings-and loan debacle The federal government proclaims that he fraudulently managed Californias Lincoln Savings into its closure and in the process profited for himself and his family an estimated thirty-four million dollars Consequently taxpayers may suffer a loss of two billion dollars The federal government is suing Keating his family and associates for one billion dollars Despite Keatings denial to the charges evidence proves that his misconduct began since the early 1980s Shockingly Charles Keating worked for an extended amount of time without being investigated or caught Keating did not have a very credible background which should have led to some suspicion About a decade ago many incidents should have foreshadowed Keatings malicious intentions At that point Keating was under the leadership of Carl Lindner at American Financial Corp a city conglomerate with interests in insurance and banking In 1979 SEC better known as the Security Exchange Commission cited Keating and other officials of the American Exchange Commission for failure to reveal particular loan transactions with their employer Keating a national championship swimmer attended the University of Cincinnati on an athletic scholarship and continued in law school Along with help from his brother Charles Keating founded the prominent Cincinnati law firm of Keating Muething and Klekamp In 1972 Keating abandoned the profession of law turning to work for the publicity-shy multimillionaire Carl Linder Lindner served as a guide and mentor in the life of Mr Keating Many similarities can be traced between the business style of these two men preeminently they both built their empires on savings and loans1 Charles Keating exceeded Mr Lindners expectations which persuaded Mr Lindner to extend an offer to the forty-eight year-old lawyer a
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