Background
Charles Keating III was born to Charles Keating, Junior., and Mary Elaine Keating on August 20, 1955.
Charles Keating III was born to Charles Keating, Junior., and Mary Elaine Keating on August 20, 1955.
Indiana University Bloomington.
He represented the United States in swimming at the 1976 Summer Olympics in Montreal, Quebec. He was convicted of fraud in the savings and loan crisis but was later exonerated. Charles Keating III qualified for Amateur Athletic Union national championships from the age of 13.
After graduating from Saint Xavier in 1973, he went on to swim for Indiana University Bloomington on a scholarship.
He graduated in 1977. He finished fifth in the final of the men"s 200-meter breaststroke.
He was inducted into the Saint Xavier Hall of Fame in 2006 and has also been inducted into the Indiana University Hall of Fame. After graduation, Keating quickly rose through the ranks at his father"s American Continental Corporation, becoming an executive vice president by 1986.
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).
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. In 1996, United States. 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 After the scandal, Keating continued to work as a real estate developer in Phoenix, Arizona.
The elder Keating had won the national college championship in the 200-yard breaststroke at the National Collegiate Athletic Association swimming and diving championships in 1946. At Saint 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. Keating won the Amateur Athletic Union National Championship in 1976 and represented the United States that year at the Montreal Summer Olympics.