Friday, April 24, 1987/The Battalion/Page 9
Settlement
takes assets
from banker
DALLAS (AP) — The man
who must give the federal gov
ernment almost everything he
owns to help untangle one of the
largest savings and loan failures
in history is optimistic about his
chance to start over, his attorney
said.
Spencer H. Blain Jr., former
chairman of Empire Savings and
Loan Association, has acknowl
edged making more than $21
million in personal transactions
while serving in his $30,000-a-
year post at Empire, but the assets
he is immediately surrendering
are valued only at about $3 mil
lion.
In settling a federal racketeer
ing civil suit against him, Blain
agreed to give up virtually every
thing he owns, plus $100 million
in future earnings, federal offi
cials said Wednesday.
Although it was the largest
such settlement, the government
and Blain’s attorney acknowledge
he may never pay the full $100
million.
“As strange as it sounds, most
of the money is just gone,” said
Deborah Goodall, one ol his at
torneys.
The settlement gives him the
chance to start over, she said, not
ing that Blain had offered to turn
over his holdings to the govern
ment at about the time Empire
was collapsing in 1984.
“He accepts that part of the
blame that is his,” said Billy Rav-
kind, Blain’s criminal attorney,
adding that Blain continues to
deny charges that he knowingly
violated any laws while running
Empire Savings.
Goodall, Blain’s attorney in the
civil suit and an associate of Rav-
kind, said her client “basically is
not left with much of anything.”
“Eventually he will start over,”
she said. “When he came to Em
pire from Austin (in 1982), he
didn’t really have that much. He
is a very optimistic person.”
Federal regulators closed Em
pire on March 14, 1984, saying
the association had used question
able lending practices.
The failure cost the Federal
Savings and Loan Insurance
Corp. $300 million to reimburse
depositors and manage the thrift.
The agency sued Blain in 1985,
accusing him of being part of an
elaborate racketeering scheme to
defraud Empire of more than
$140 million through fraudulent
land and construction loans.
Under the agreement between
Blain and the FSLIG, Blain has
surrendered $700,000 in cash, his
$750,000 home, a house in
Steamboat Springs, Colo., a vari
ety of notes related to properties
he already has sold, his interest in
several land transactions, his per
sonal vehicles and his interest in
132 oil wells.
Cl
I? 'll
RAND OPEN IN
%
JOIN THE
O
<1
THURSDAY, FRIDAY & SATURDAY, APRIL 23-25
OF
\
WE WILL BE GIVING AWAY 500
mks!
AT ANY ZIP*N LOCATION
(You couM be the 1-100 gaL winner or 1 of 20 - 20 gat winner*.)
WIN
We always have low milk prices!
THIS WEEKEND LILLY
MILK IS ONLY *1.79g*.
PAY
ONLY
Reg. ^2.19 homo
/
9 c /GAl:
(SHELL - REGULAR LEADED AND REGULAR UNLEADED)
FREE COFFEE & MUG Bring
In any o( our owwipetBore :.«jgs
and well give you a new
23p’N mug FREE and
Mtjtwtth FREE
o
!>
AT THESE TIMES AND LOCATIONS
ON SATURDAY, APRIL 25th ONLY.
STORE 110 1615 N. Texas, Bryan (Texas & Old Hearne Rd.)
STORE 122 3600 Old Hearne Rd., Bryan
STORE 101 1400 S. Texas, College Station (Jersey & Texas Ave.)
STORE 124 1439 Villa Maria, Bryan (FM2818 & Villa Maria)
STORE 103 609 University Dr., C.S. (University & Nagle)
STORE 118 200 N. Texas, Bryan (25th St. & Texas Ave.)
STORE 123 2901 E. Villa Maria, Bryan (Villa Maria & Boonville Rd.)
STORE 121 3151 Briarcrest, Bryan (Across from the Brazos Center)
STORE 102 321 Redmond Drive, C.S. (Texas Ave. & Redmond)
The Jolt Girls will also be at these locations during these times giving away
FREE SAMPLES OF JOLT
6 A.M. - 8 A.M.
8 A.M. - 10 AM.
10 A.M. - 12 NOON
12 NOON - 2 P.M.
2 P.M. - 4 P.M.
4 P.M. - 6 P.M.
6 P.M. - 8 P.M.
8 P.M. - 10 P.M.
10 P.M. - 12 A.M.
Shell
THREE CAKES
Buttercrust
or Mrs. Bairds
2 LITER
COKE
99*
6 PACK JOLT
*1.99
SCHAEFER BEER
n $ 5.99 CASE
(24 12 oz. suitcase)
AUTOMATIC AOCl
TRANSMISSION FLUID *15# /W os.
16 OZ.
PEPSI
19*
BUY 1 BAG
(6.5 oz.) Frito Lay Brand
POTATO CHIPS
GET 1 FREE
BUDWEISER BEER
$ 4.99 12 PACK
: ^ :
ewNMOie
16W40
MOTOR OIL #51/
m
^.OO OFF
8 GAL (or more)
GAS PURCHASE
1 coupon per customer, per visit
*1.00 OFF
ANY CARTON
CIGARETTES
1 carton per coupon
2 LOAVES
OF BREAD
FOR 99 c
25® HOT DOGS
Limit 10 per customer,
per coupon.
Good at paticipating Locations
Expires 5-5-87
SHORT
ON
CASH???
Sell your books
at
University Book Stores
Northgate & Culpepper Plaza
TANU
7 Sessions
for
S21
846-9779
104 College Main
TEXAS A&M
SOCCER CAMP
June 22-26
Sessions:
1.8:00 a.m.-12 p.m.
11.5:30-9:30 p.m.
contact: Laura Johnson
at 845-0739
9
9
♦
0
♦
♦
♦
<1
O
♦
n
NEED
MONEY???
Sell your BOOKS
at
University Book Stores
Northgate & Culpepper Plaza
SCHULMAN THEATRES
2.50 ADMISSION
1. Any Show Before 3 PM
2. Tuesday - All Seats'
3. Mon-Wed - Local Students With
Current ID s
4. Thur - KORA "Over 30 Nite”
•DENOTES DOLBY STEREO
PLAZA 3
226 Southwest Pkwy 693-2457
k RAISING ARIZONA pg-is
7:15
•>■35
•MAKING MR. RIGHT pg 13
'LETHAL WEAPON r
MANOR EAST 3
7:25
9:45
Manor East Mall
823-8300
PLATOON r
7:10
9:40
ARISTOCATS
7:15
9:15
EXTREME PREJUDICE £20
v ! SCHULIVIAN 6 ; ■
2002 E. 29th
POLICE ACADEMY
7:10
9:55
MANNEQUIN
7:20
9:50
$ DOLLAR DAYS $
This Week’s Features Are:
BLACK WIDOW
7:20
9:45
CROCODILE DUNDEE pa-13
7:25
9:35
NIGHTMARE ON
ELM STREET III r
7:30
9:40
BURGULAR r
7:15
9:45
The
Battalion
845-2611
WISE ' ■
MOVE