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Charles Keating Jr. dies
CINCINNATI (WKRC) -- A Cincinnati native who was the center of the savings and loan scandal of the late 80's has died.
Charles Keating Jr. was first known here as an anti-pornography activist in the 60's and 70's before becoming a close associate of billionaire Carl Lindner. After leaving Cincinnati, he ran Lincoln Savings and Loan in Arizona and used loosened restrictions to make fraudulent investments.
S&L's collapse cost taxpayers 3 billion dollars. Keating served 4.5 years in prison.
He died yesterday in Phoenix at the age of 90.
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