(AP) – Two former executives have been found not guilty in
Little Rock of federal bank fraud charges related to a 2007 loan.
Arkansas Business reports that former One Bank & Trust executives Michael
Heald and Bradley Paul were found not guilty on Monday.
Heald had been charged with conspiracy, money laundering and two counts of
aiding and abetting false entries. Paul faced the same charges plus an
additional charge of abetting false entry.
The charges were in connection to a $1.5 million loan that another banker
facilitated to Alberto Solaroli, a Canadian resident of Florida. Authorities say
Solaroli misrepresented his net worth and never made a payment on the loan. He
pleaded guilty to money laundering and received a one-year prison sentence.
WebReadyTM Powered by WireReady® NSI