FAYETTEVILLE -- A federal jury found a former Fayetteville resident guilty of two counts of bank fraud involving a heavy equipment business.
Andrew C. Judkins, 42, of Bixby, Okla., was convicted of swindling First Security Bank. Judkins regularly bought inventory using a revolving line of credit that allows a borrower to obtain financing for retail goods by using a specific piece of equipment as collateral for a loan.
Judkins submitted a fake invoice in 2008 to the bank for $500,000 representing A. Camp Equipment's purchase of two dump trucks, according to court documents. Judkins bought the two trucks in 2007 for $30,000 each.
Judkins owned A. Camp Equipment in Fayetteville that sold, rented and serviced new and used heavy equipment, such as dump trucks and bulldozers.
In August 2009, Judkins defrauded First Security by giving a bank employee a fraudulent rental agreement that showed one of the dump trucks had been rented to a construction company in Sallisaw, Okla. The false rental agreement concealed that one of the dump trucks was sold in July 2008 for $74,000 without Judkins repaying the bank.
"Fraudulent schemes prey on our local economy and will be aggressively prosecuted," said Conner Eldridge, U.S. Attorney for the Western District of Arkansas. "Our office remains focused on those who perpetrate fraud, swindle money from others, and engage in financial crimes."
Judkins was indicted by a federal grand jury in December 2013. Sentencing will be held at a later date. The maximum penalty for each count is up to 30 years in prison, a fine of up to $1 million or both.
Judkins' sentence will be determined by the court after review of his prior criminal record, if any, his role in the offense, and the characteristics of the violations.
Timothy L. Brooks presided over the five-day jury trial in U. S. District Court in Fayetteville.
The case was investigated by the Federal Bureau of Investigations. Assistant U. S. Attorneys Kyra Jenner and Steve Snyder prosecuted the case.
NW News on 03/11/2015