Much of Charles Keating's world was false and deceptive. Loan Association in Texas was sentenced April 2 to five years in prison and ordered to repay $577,000 to the FDIC for bank fraud. The story begins with a young man named John Keats who is born in the small town of Keswick, near Bath, England. After the verdict of guilty was read at his trial, he protested his innocense and claimed that federal prosecutors drove him out of business. Keating's actions appear to be those of a man without a conscience. His victims included many elderly investors who lost their savings in the purchase of junk bonds. He described them as "insured certificates of deposit."
Much of Charles Keating's world was false and deceptive. The story begins with a young man named John Keats who is born in the small town of Keswick, near Bath, England. After the verdict of guilty was read at his trial, he protested his innocense and claimed that federal prosecutors drove him out of business. Keating's actions appear to be those of a man without a conscience. His victims included many elderly investors who lost their savings in the purchase of junk bonds. He described them as "insured certificates of deposit."