A federal judge has lifted a stay on a 2013 civil case in which the federal government is trying to claim millions of dollars, as well as two houses and several vehicles, owned by Little Rock businessman Stephen Parks.
In August 2013, a month before the stay was imposed, federal prosecutors revealed that the government was seeking the assets because of an ongoing investigation into a suspected scheme involving tax credits related to the sale and production of refined coal.
Parks operates King Coal LLC and Ecotec Coal LLC, both based in Arkansas. King Coal has described itself online as a "green energy company" using innovation and technology to "safely revitalize the coal industry."
Until U.S. District Judge Susan Webber Wright ordered the government to provide more details to justify its forfeiture efforts, prosecutors had said only that the property constituted proceeds of wire fraud and money laundering, which Parks said was too vague to enable him to defend himself. Parks and the government then jointly requested, and received, a stay on the forfeiture proceedings pending the completion of a criminal investigation.
On March 6, attorneys for Parks asked Wright to lift the stay "based on the government's lack of progress in its investigation," noting that no indictments have resulted after almost four years of investigating and that Parks, his businesses and his wife, Anna Harper Parks, are struggling to stay afloat financially while being unable to use their assets. The government responded by saying it had no objection to the stay being lifted, and Wright granted the request Tuesday.
The lifting of the stay moves the proceedings forward, with Wright saying in her order Tuesday that she will file a separate order setting deadlines in the case.
Attorneys said in the motion to lift the stay that the government has been investigating Parks and the businesses since 2011, obtained its first search warrant against them in 2012 and seized a majority of the assets in February 2013. Last week, First Assistant U.S. Attorney Patrick Harris said the investigation is ongoing.
The Parkses also filed a lawsuit accusing Internal Revenue Service agents who raided the businesses and their home on North Spruce Street in 2012 of violating their civil rights in the process. The lawsuit is pending before Chief U.S. District Judge Brian Miller.
Metro on 03/26/2015