Keating , the Irvine businessman and savings and loan owner, may have finally come to a measure of reality. His legal battles against creditors, regulators and prosecutors looked like a lost cause. For this reason, he may have considered that flight was the only means of escape. Perhaps the presiding judge at Charles Keating 's hearing also came to this realization when he refused to reduce a $2 billion bail for Keating. The latter was indicted on 20 counts of state securities fraud. The judge, in making his ruling, said that Keating , "has significant reasons not to stay around."
Charles Keating, the Phoenix businessman and savings and loan owner, may have finally come to a measure of reality. His legal battles against creditors, regulators and prosecutors looked like a lost cause. For this reason, he may have considered that flight was the only means of escape. Perhaps the presiding judge at Keating's hearing also came to this realization when he refused to reduce a five million dollar bail for Keating. The latter was indicted on 42 counts of state securities fraud. The judge, in making his ruling, said that Keating, "has significant reasons not to stay around."