In the Lincoln Savings & Loan failure during the period of failures at savings and loan institutions, Lincoln was charged with:
A) Stealing $300 million from shareholders
B) Causing retirees to lose their life savings
C) Causing employees to lose their jobs
D) Engaging in a Ponzi scheme

Question

Quizplus · Accepted Answer

The failure of Lincoln Savings & Loan caused retirees to lose their life savings. This was due to the fraudulent and fraudulent activities of the institution's owner, Charles Keating Jr., who used depositors' funds for personal benefit and engaged in risky investments.

In the Lincoln Savings & Loan Failure During the Period