A Little Rock real estate developer pleaded guilty to mail fraud Thursday, United States Attorney Christopher Thyer announced in a news release.
Roger Stephen Clary, 60, of Little Rock, was indicted for misappropriating nearly $1.6 million of a loan obtained on May 8, 2008, through Banc of America Leasing Corporation for his company, Destination Ventures.
According to the release, Clary could face up to 30 years imprisonment and/or a $1 million fine with five years supervised released. Four counts of wire fraud, which were included in the original indictment, were dropped as part of the plea deal.
Read Friday's Arkansas Democrat-Gazette for full details.