Arkansas Blog: Gene Cauley gets 7 years

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Gene Cauley gets 7 years

Arkansas Business reports that former Little Rock securities law shotshot/entrepreneur Gene Cauley got an 86-month federal prison sentence in New York today for wire fraud. And he's still almost $9 million short in making restitution to a client trust fund he tapped as his finances disintegrated.

AB updates here.

Posted by Max Brantley on November 23, 2009 02:14 PM | Permalink

Comments

Can anyone on these pages explain the "Gene Cauley Foundation?"

Posted by: eLwood | November 23, 2009 02:37 PM

Good, NO GREAT, riddance. Gene will undoubtably make some new friends in prison as they are all so much alike.

Posted by: downtowner | November 23, 2009 02:45 PM

Cauley was one of the financial backers of Watervew Estates along with developer Rick Ferguson and six other entities. Waterview is in the Lake Maumelle (#1 water source in Arkansas supplying 400,000 central Arkansans) watershed, in the area closest to the intake pipes. A pitched battle was lost when the Central Arkansas Water Board defied the public will and voted to allow the development to go forward despite the threat houses in this critical location pose to the lake.

What's going on there today? Lots of very expensive houses and also scores of lots with 'For Sale' signs on them. Looks like one of the lending institutions, First Security of Searcy, has taken over many of the lots, maybe for nonpayment of loans/bankruptcy?

Another Waterview backer also went bankrupt with debts in the tens of millions and almost nothing in assets.

Tells you a lot about the DNA of developers!

Posted by: Sound Policy | November 23, 2009 10:56 PM

One of the best things I've heard in a long time! Why won't someone report on Geno taking a dump in the urinal of a former law partner? That would give people a good idea of what this prick is really like !!!

Posted by: Mr_Sharko | December 16, 2009 05:05 PM

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