Damages Set in Butcher Case: U.S. District...

Damages Set in Butcher Case: U.S. District Judge R. Allan Edgar ordered C. H. Butcher Jr. and others to pay $19.3 million in damages for a plot to hide the bankrupt financier’s wealth when his banking empire collapsed. A federal jury last month found that C. H. Butcher Sr. and two disbarred Atlanta lawyers conspired with the younger Butcher to help keep some of his wealth. The jury found the senior Butcher, Robert L. Schwind and David L. Hill guilty under the Racketeering Influenced Corrupt Organizations Act. C. H. Butcher Jr. and his brother, 1978 Tennessee Democratic gubernatorial candidate Jake Butcher, were convicted in connection with the 1983 failure of their twin banking empires, Southern Industrial Banking Corp. and United American Bank chain.