Much of Charles Keating 's world was false and deceptive . The former president of Lincoln Savings and Loan and chairman of American Continental Corporation was unable to come to terms with the fact that he drove many people to financial ruin . After the verdict of guilty was announced at his trial , he protested his innocense and claimed that federal prosecutors drove him out of business . Keating 's crimes appear to be those of a man without a conscience . His victims included many elderly investors who lost their savings in the purchase of government bonds . He described them as " insured certificates of deposit . "
Much of Charles Keating's world was false and deceptive. The former president of Lincoln Savings and Loan and chairman of American Continental Corporation was unable to come to terms with the fact that he drove many people to financial ruin. 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."