Former Garland mayor in S&L scandal dies

DALLAS,TX. (AP) - A former Dallas-area mayor and developer convicted in the 1980s savings and loan scandal has died.

A spokeswoman for Dignity Memorial Network on Thursday said services were held Feb. 19 in Plano for James Toler Sr. Toler died Feb. 18 after battling Parkinson's disease. He was 76.

Toler was elected mayor of Garland in 1966 and 1968.

Toler in 1981 was in a partnership buying land along Interstate 30 east of Dallas. Investigators say property "flips" involving loans on grossly inflated appraisals caused several savings and loans to fail.

Toler in 1991 was convicted on 41 counts of conspiracy, racketeering and bank fraud. He was sentenced to 20 years in prison and ordered to forfeit $40 million.

The Dallas Morning News reports Toler served less than eight months.

(Copyright 2012 The Associated Press. All rights reserved.)

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