Ex-Owner Is Indicted in Collapse of Vernon S&L; : Thrifts: Don Dixon gave the Texas institution’s money to prostitutes and politicians, the government says. The mess could cost taxpayers $1.3 billion.
A flamboyant former Texas savings and loan owner was charged Wednesday with using the thrift’s money to contribute illegally to powerful politicians and to pay prostitutes. The federal indictment accuses Don R. Dixon of 38 criminal counts in the collapse of Vernon Savings & Loan in tiny Vernon, Tex.–a debacle that could cost taxpayers as … Read more