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Alice King Completes Term, Stays in Dallas - Sep 10, 1993 - Omaha World-Herald

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Sep 10, 1993. Alice King Completes Term, Stays in Dallas; [Bulldog Edition] Omaha World - Herald. Omaha, Neb pg. 23

(Copyright 1993 Omaha World-Herald Company)
Midlands Datelines/1 0f 4

Alice King, wife of the former head of Omaha's failed Franklin Community Federal Credit Union, has completed her prison term. For now, at least, she isn't returning to Omaha.

"She is employed and is in good spirits," said her attorney, Jerold Fennell, who declined to provide other specifics.

Mrs. King, 47, has remained in the Dallas area, where she finished her federal term July 1, friends said.

Mrs. King, sentenced to three years for filing a false income tax return, was confined for one year in the Federal Prison Camp at Bryan, Texas. She served a second year in a halfway house in the Dallas area, where she worked at a Veterans Administration hospital.

Last year, U.S. District Judge William Cambridge of Omaha denied her request to shorten her sentence. She served until her normal release date, which took into account reduction of time for good behavior.

Her husband, Lawrence E. King Jr., who began a 15-year sentence in June 1991, is an inmate at the minimum-security Federal Correctional Institution at Sandstone, Minn.

King pleaded guilty to three charges stemming from the disappearance of $39 million and the subsequent collapse of Franklin on Nov. 4, 1988. Creighton Reports Deficit in 1992-93 Creighton University had a $2.6 million deficit in the 1992-93 fiscal year, its first deficit in more than 20 years, the university's vice president for administration and finance said.

George Grieb said lower-than-expected revenue from Creighton's medical clinics was responsible for $1.8 million of the deficit.

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