King Coal Investigation Heating Up; FBI Executes New Search Warrant

by Gwen Moritz  on Wednesday, Aug. 27, 2014 3:40 pm  

King Coal LLC in Little Rock faced a search-and-seizure warrant. | (Photo by Michael Pirnique)

The federal criminal investigation of King Coal LLC is apparently heating up again: A search-and-seizure warrant was executed Wednesday at the company's offices in Little Rock's Riverdale area, the FBI confirmed.

The building at 1616 Brookwood Drive is already included in a wide-ranging civil forfeiture suit originally filed by federal prosecutors in February 2013, four months after a warrant was served at the Little Rock home of King Coal's CEO, Stephen Parks.

That suit, which seeks the forfeiture of some $8 million worth of real estate, vehicles and cash, has been in a holding pattern since last September, when U.S. District Judge Susan Webber Wright granted a stay pending the completion of a criminal investigation into King Coal's business of selling tax credits.

No criminal charges have been filed against Parks or anyone else associated with King Coal.

Parks, reached by phone at the Riverdale office, declined comment.

He and his businesses recently hired new lawyers to fight the forfeiture suit, but neither Patrick J. Benca nor John D. Kennedy of the Benca & Benca firm in Little Rock was immediately available for comment on Wednesday's FBI action.



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