Subscribe Register Login

Saturday, April 19, 2014, 5:49 p.m.
Top Picks - Arkansas Daily Deal

Arkansas banker, businessman denies wrongdoing

By The Associated Press

This article was published December 15, 2013 at 3:54 p.m.

CONWAY — The president and CEO of HomeBank of Arkansas who also owns Mountain Pure Water denies allegations in a federal indictment that he fraudulently received a federal loan following a May 2008 tornado.

John Stacks of Damascus said in a statement to the Log Cabin Democrat that the Dec. 4 indictment charging him with wire fraud, money laundering, submitting a false claim and making a false statement is without merit.

The Indictment says Stacks obtained a Small Business Administration loan in 2009 for $703,300 after falsely claiming he had over $500,000 worth of Mountain Pure Water equipment at his farm in Damascus destroyed when a tornado touched down in the area in May 2008.

Stacks' statement said allegations that he unfairly profited could not "be further from the truth."

Comments on: Arkansas banker, businessman denies wrongdoing

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Class a drivers

    class a drivers now hiring dedicated routes-home daily!!Exce...
    LITTLE ROCK, AR

  • Education

    The Ouachita Area Adult Center headquartered in Malvern, Ar...
    MALVERN, AR

  • Networksystemsadmin

    network systems admin — Hardware/Software Professional. Stro...
    LITTLE ROCK, AR

  • Clerks

    CLERK - Part TimePrefer basic knowledge of public library se...
    NORTH LITTLE ROCK, AR

  • Construction equipme

    construction equipment service technicianthe G.W. Van Keppel...
    LITTLE ROCK, AR

Search 752 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online