Probe of Keating-BCCI Link Urged

An 800-page U.S. Senate report on the worldwide activities of the failed Bank of Credit and Commerce International calls in a brief passage for “further investigation” of the connection between convicted securities defrauder Charles H. Keating and the scandal-ridden BCCI.

The report, issued Oct. 1 by Sen. John Kerry (D-Mass.), chairman of the Foreign Relations Committee, raises the “possibility that BCCI-related entities may have laundered funds for Keating to move them outside the United States.”

Authorities have been trying to find Keating assets ever since his Irvine-based Lincoln Savings & Loan collapsed in April, 1989.

Keating is serving a 10-year prison term for his state securities fraud conviction last year. Lincoln is the nation’s biggest thrift failure, costing taxpayers $2.6 billion.