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As we discussed, I am enclosing copies of checks which Mrs. McCain wrote to American Continental Corporation in 1986 to reimburse ACC for flights taken by Senator McCain. I just became aware of these checks today.

It appears that these checks were written to reimburse ACC for the flight taken April 4, 1985 by Senator McCain from Washington, D.C. to Phoenix and for the flight taken August 29, 1985 by Senator McCain from Miamt to Phoenix. Because I was not aware of these checks at the time that we corresponded back in May of this year, these flights were also included on the schedule for which Senator McCain made reimbursement to ACC in May of 1989. Therefore, it appears that Senator McCain reimbursed ACC twice for those two flights. Because of our bankruptcy, we will encounter some difficulty in arranging for reimbursement at this point. However, if the Senator would like to be reimbursed, please let me know and I will see what we can do. I apologize for any inconvenience delayed discovery of these two checks may have caused. Please let me know if you have any questions concerning this.

Very truly yours,

David E. Stevens
Director of Taxation

Enclosure

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Attachment

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10/12/89 McCain Repays Keating Firm for Trips

9 Flights Linked to S&L Defendant Were Not Disclosed Earlier

By Charles R. Babcock

control of its Lincoln Savings and ting's office told him the laternal Foto Sell Writte

Loon of Irvine, Calif. The govern Revenue Service was going to

ment recently sued Keating and his charge Keating for the nights. 1
en. John McCain (R-Aris.) re- companies for more than $1 billion, was astounded and reimbursed the
cently paid back $13,433 to the alleging he fraudulently diverted company, he said. His personal re-
failed company of Arizona executive Lincoln's assets for his personal payments were in May and June.
Charles H. Keating Jr. for nine cor.
wealth.

The House and Senate ethics
porate and charter jet flights McCain said he met Keating in committees both told McCain that
McCain and his family took from 1981 and we became good social his reimbursement to American
1984 to 1986 but which McCain frienda. Each August for three Continental was sufficient remedy
failed to disclose as required.

years McCain and his wife, Cindy. for his failure to report the trips
McCain, a House member at the

flew on Keating corporate planes originally.
time of the trips, was elected to the

for short vacations at Keating's The Phoenix paper also disclosed
Senate in 1986 and was one of five

home in Cat Cay in the Bahamas. that McCain's wife and father-insenators who intervened with led- McCain's wife and babysitter also law, a wealthy Arizona beer distrib

SEN. JOHN MOCAIN eral savings and loan regulator on took flights on Keating corporate utor, invested $359,100 in Ker

... concedere a worlower Keating, behalf in 1987. He also feta, according to recordo released ting shopping center partnership in received more than $100,000 in by the senator's office.

1986. McCain said he was aware of cland (D-Arte.), another of those who McCain said he cut off his deal the investment but did not believe it

met with regulators, sald that De campaign donations over the years ings with Keating soon after the created a conflict of interest for from Keating, Keating's family and

Concini wada Keating corporate business associates

second of two meetings with rege him. He said that he and his wife file jet to fly to a campaign appearance ulators in April 1987.

separate tax returns and that he died for another senator about five years
IcCain said in an interview yes

Keating came to my office, and I not benefit from the investment. ago but that the trip was paid for at
day that his failure to pay for the said to him, a friend of mine, 'I have The other senators who inter- the time.
trips earlier, first disclosed Sunday done all I can. Period.' He got angry vened for Keating also received siz- Kevin Gottlieb, speaking for Sea.
in the Arizona Republic, 'was a se

and left, and we soon heard he able Keating-related campaign do Donald W. Riegle Jr. (D-Mich.).
rious error. But it doesn't mean I
called me a wimp. I never had any nations and gifts to other causes.

who attended the second meeting. did anything improper for Charles further dealings with him. ... He Spokesmen for Sena. Alan Cran said Keating'firm paid for one Keating."

wanted me to go back for further ston (D-Calif.) and John Glenn (D- commercial night for Rlegle and his
Keating's Arizona company, talks with regulatora). It was be- Ohio), who also attended the meet.

wile in March 1986. He said the
American Continental Corp., filed yond what I felt I should do." ings with regulators, said yesterday trip for the opening of the refur-
for protection from its creditors in McCain said he was reminded that their senaton never flew on a bished Pontchartrain Hotel in De
Bankruptcy Court in April, just al- that the Keating Rights had not Keating plane. Bob Maynes, a troit, Keating project, was re-
ter the federal government took been paid for last March when Kea- spokesman for Sen. Dennis DeCon- ported by Riegle.

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