Charles Keating III

Charles Keating III
Personal information
Full name Charles Humphrey Keating III
National team  United States
Born (1955-08-20) August 20, 1955
Cincinnati, Ohio
Height 6 ft 1 in (1.85 m)
Weight 179 lb (81 kg)
Sport
Sport Swimming
Strokes Breaststroke
Club Gatorade Swim Club
College team Indiana University

Charles Humphrey Keating III (nicknamed C3;[1] born August 20, 1955) is an American former competitive swimmer and real estate executive. He represented the United States in swimming at the 1976 Summer Olympics in Montreal, Quebec.[2] He was convicted of fraud in the savings and loan crisis but was later exonerated.

Early life and swimming

Charles Keating III was born to Charles Keating, Jr., and Mary Elaine Keating on August 20, 1955. The elder Keating had won the national college championship in the 200-yard breaststroke at the NCAA swimming and diving championships in 1946. Charles Keating III is also the brother-in-law of four-time Olympic medalist Gary Hall, Sr., and the uncle of ten-time medalist Gary Hall, Jr.

Charles Keating III qualified for Amateur Athletic Union national championships from the age of 13. At St. Xavier High School in Cincinnati, he swam for the state champion varsity team all four years. During his senior year, he won the Ohio state championship in 200 IM and 100 breaststroke.[3][4]

After graduating from St. Xavier in 1973, he went on to swim for Indiana University Bloomington on a scholarship.[5] He graduated in 1977.[2]

Keating won the AAU National Championship in 1976 and represented the United States that year at the Montreal Summer Olympics. He finished fifth in the final of the men's 200-meter breaststroke.[2] He was inducted into the St. Xavier Hall of Fame in 2006[5] and has also been inducted into the Indiana University Hall of Fame.[4]

Real estate

After graduation, Keating quickly rose through the ranks at his father's American Continental Corporation, becoming an executive vice president by 1986.[1][6]

In 1993, Keating was convicted on 64 counts of fraud and conspiracy as a co-conspirator with his father in the collapse of American Continental and Lincoln Savings and Loan Association (see savings and loan crisis).[7][8] The younger Keating was sentenced to eight years and one month in prison and $97.3 million in restitution but remained free on bail pending appeals.[9][10]

In 1996, U.S. District Judge John Davies overturned their convictions, ruling that the jury in the 1993 case was prejudiced by rulings against the elder Keating at the state level.[10] In April 1999, federal prosecutors agreed to a plea bargain with the elder Keating in which all outstanding charges were dismissed against his son.[7][9][11]

After the scandal, Keating continued to work as a real estate developer in Phoenix, Arizona.[3]

See also

References

  1. 1 2 Furlong, Tom (March 13, 1988). "Developer With a Cause Battles on Many Fronts". Los Angeles Times.
  2. 1 2 3 "Olympics". sports-reference. Retrieved July 17, 2012.
  3. 1 2 "Blast from the Past". The Cincinnati Post (E. W. Scripps Company). February 22, 1996. p. C3. Retrieved September 29, 2010 – via HighBeam Research. (subscription required (help)).
  4. 1 2 "2006 Inductees". St. Xavier High School. 2006. Retrieved December 27, 2015.
  5. 1 2 Katzowitz, Josh (February 7, 2006). "Muskies Up Early for Practice". The Cincinnati Post (E. W. Scripps Company). Retrieved December 27, 2015 – via HighBeam Research. (subscription required (help)).
  6. ↑ Lavin, Cheryl (January 14, 1990). "Charlie's web". Chicago Tribune. p. 5-1.
  7. 1 2 Knapp, Michael C. (July 24, 2014). Contemporary Auditing: Real Issues and Cases (10th ed.). Boston: Cengage Learning. p. 104. ISBN 128506660X – via Google Books.
  8. ↑ Albrecht, W. Steve; Albrecht, Chad O.; Albrecht, Conan C.; Zimbelman, Mark F. (2012). Fraud Examination (5th ed.). Boston: Cengage Learning. p. 47. ISBN 978-1-305-07914-4 – via Google Books.
  9. 1 2 White, Michael (April 7, 1999). "Keating pleads guilty to fraud". The Cincinnati Enquirer (Gannett Company). Associated Press. Retrieved December 27, 2015.
  10. 1 2 Rickard, E. Scott (December 3, 1996). "Keating fraud conviction tossed out". The Cincinnati Enquirer (Gannett Company). Associated Press. Retrieved December 27, 2015.
  11. ↑ Mrozek, Thom (April 6, 1999). "Charles Keating pleads guilty to federal fraud charges; four criminal convictions resolve 10-year-old case" (Press release). United States Attorney for the Central District of California. Archived from the original on 1999-09-21.
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