Fall of The Mighty

The law snares an S&L swindler, an ex-envoy and a careless airline

Taxpayers, elderly investors, grieving relatives and individuals triumphed last week as a number of powerful interests came before the bar of justice. The legal actions included the following:

LINCOLN SAVINGS. A federal jury in Tucson awarded $3 billion in damages against Charles Keating Jr. and three co-defendants for swindling thousands of savings and loan investors. The huge award may end up being more a symbol of public anger about the S&L debacle than a collectible judgment. The jury found that developer Conley Wolfswinkel, the Saudi European Investment Corp. and Continental Southern conspired with Keating and officers in American Continental and its...

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