Wednesday, July 2, 2014

Mount Ida man gets 60-month plea deal in fraud scheme

Posted By on Wed, Jul 2, 2014 at 4:32 PM

click to enlarge STEVEN STANDRIDGE - ARKANSAS BUSINESS
  • Arkansas Business
  • STEVEN STANDRIDGE
The U.S. attorney's office has announced that Steven Standridge, 57, of Mount Ida had pleaded guilty to wire fraud and money laundering and would receive 60 months in prison. The sentence could be reduced further if he repays 80 percent of the $7 million defrauded from victims.

Here's the U.S. attorney release.

And here's some earlier Arkansas Business reporting on the case.

Standridge, who owned independent insurance agencies, was charged with borrowing money from friends and Arkansas banks, purportedly to buy other insurance agencies, but used the money for other purposes. Two men with whom he'd done business pleaded guilty earlier to helping him in the schemes.

Tags: , ,

Favorite

Speaking of Steven Standridge, wire Fraud

Comments (5)

Showing 1-5 of 5

Add a comment

 
Subscribe to this thread:
Showing 1-5 of 5

Add a comment

More by Max Brantley

Readers also liked…

Most Shared

  • Labor department director inappropriately expensed out-of-state trips, audit finds

    Jones was "Minority Outreach Coordinator" for Hutchinson's 2014 gubernatorial campaign. The governor first named him as policy director before placing him over the labor department instead in Jan. 2015, soon after taking office.
  • Rapert compares Bill Clinton to Orval Faubus

    Sen. Jason Rapert (R-Conway)  was on "Capitol View" on KARK, Channel 4, this morning, and among other things that will likely inspire you to yell at your computer screen, he said he expects someone in the legislature to file a bill to do ... something about changing the name of the Bill and Hillary Clinton National Airport.

Visit Arkansas

View Trumpeter Swans in Heber Springs

View Trumpeter Swans in Heber Springs

Magness Lake, in Heber Springs, is a magnet for swans

Most Viewed

Most Recent Comments

Blogroll

 

© 2016 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation