- Associated Press - Tuesday, December 9, 2014

FORT SMITH, Ark. (AP) - The U.S. attorney’s office is recommending that a former northwest Arkansas developer pay more than $16 million in restitution as part of his sentence.

The Arkansas Democrat-Gazette (https://bit.ly/1qqcq4w ) reports 38-year-old Brandon Barber was sentenced in October to more than 5 years in prison after pleading guilty to bank fraud, bankruptcy fraud and money laundering.

Federal prosecutors had accused Barber of concealing his assets and income after he filed for bankruptcy, as well as defrauding banks for loans to finance real estate projects.

Federal officials contend Barber owes nearly $7.5 million to Legacy Bank in Springdale; nearly $8.2 million to Enterprise Bank of St. Louis, Missouri; and $550,000 to First Federal Bank of Fayetteville.


Information from: Arkansas Democrat-Gazette, https://www.arkansasonline.com

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