Former Arvest bank chairman prosecuted more than financing standard

Former Arvest bank chairman prosecuted more than financing standard
Most other finance companies regarded as on it become: • Earliest Defense Financial • Chambers Financial • Bank regarding Fayetteville • Signature Financial • Very first County Lender DeQueen • Very first National Financial from Slope Household
Dennis Smiley, conducting business as the HDS Holdings LLC, are sued March 25 by Delta Faith & Financial inside the Benton State, more an unsecured loan default – it absolutely was most recent shoe to drop in the a keen unfolding tale related Smiley’s sudden resignation March thirteen as president out-of Arvest Bank Benton County.
The guy in addition to face that loan swindle data first stated by Arkansas Business into April dos. That it declaration says among the mortgage money don’t clear Smiley’s checking account into February ten, and this raised a red flag that led to their resignation.
Supply which asked for privacy have advised The metropolis Cord one to numerous Arkansas banking institutions got borrowed Smiley money over the past five ages and then he anytime he sworn a similar limited Arvest shares to possess collateral. Smiley reportedly lent a projected $cuatro.5 mil out of over several Arkansas banks dating back to so you’re able to 2009, according to Uniform Commercial Password filings which have Arkansas Coverage out of County. Continue Reading