The Nation - News from Feb. 9, 1988

Five businessmen were charged with financial wrongdoing in connection with a sweeping U.S. Justice Department investigation into fraud among Texas’ ailing savings and loan institutions, authorities disclosed. U.S. Atty. Marvin Collins of Dallas called the charges the opening salvo of the case, described as the largest FBI investigation of white collar crime in the Southwest. Collins said four of the five men have either pleaded guilty or agreed to enter guilty pleas and have agreed to cooperate with the investigation. The fifth man is charged in a three-count indictment filed in Dallas federal court.