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Judge rules Arkansas legislator, wife owe $2.4M for defaulting on loans

By Dave Hughes

This article was published November 21, 2017 at 5:56 p.m.

Sen. Jake Files, R-Fort Smith, is shown in this file photo.


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FORT SMITH — A circuit court judge has filed a judgment against state Sen. Jake Files and his wife for more than $2.1 million for defaulting on loans for which they pledged their home, his business office and another house as collateral.

An attorney for First Western Bank of Booneville filed suit against Jake and Michaela Files in June after they failed to make payments on loans that were made to them in 2013 and 2014.

Sebastian County Circuit Court Judge Michael Fitzhugh filed the judgment Nov. 14 against the pair in an order granting partial summary judgment to First Western Bank. The Fileses did not respond to the filing of the bank’s summary judgment motion, the document states.

Files did not respond to an email sent to him Tuesday afternoon seeking comment on the ruling.

Read Wednesday's Arkansas Democrat-Gazette for full details.

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