Reiner to Seek Maximum Term for Keating:...

Reiner to Seek Maximum Term for Keating: Los Angeles County Dist. Atty. Ira Reiner said Tuesday that his office will seek the maximum 10-year prison term for Charles H. Keating Jr., who last week was convicted of securities fraud. Reiner told a meeting of about 200 mostly elderly bondholders in Keating’s bankrupt company that Keating “deliberately targeted retired people” with a bond sales program that was “simply conscience-less.” Keating was convicted last week on all but one of 18 counts of defrauding small investors in his company, American Continental Corp. The criminal charges covered a few of the thousands of small investors who lost more than $250 million after the company and its primary subsidiary, Irvine-based Lincoln Savings & Loan, collapsed in April, 1989.