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                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, February 13, 1993                   TAG: 9302130102
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: Associated Press
DATELINE:                                 LENGTH: Short

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IN BUSINESS

Former S&L chairman not guilty of fraud

DENVER - Former Silverado Chairman Michael Wise was acquitted of all charges Friday that he illegally used about one-third of a $1.45 million loan from the thrift in 1986 for his personal use.

The Denver U.S. District Court jury delivered the verdict after 4 1/2 hours of deliberations.

Silverado failed in December 1988 at an estimated cost to taxpayers of $1 billion. The thrift achieved national notoriety because one of its former directors was President Bush's son Neil.

Financial markets to be closed Monday

U.S. stock and financial markets will be closed Monday for the Presidents Day holiday. The Roanoke Times & World-News will not publish stock and securities markets tables on Tuesday, and will resume regular reports in Wednesday's editions.

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