First Southern Bank of Batesville Fears It Bought $22 Million Worth of Fake Bonds

by Arkansas Business Staff  on Monday, Dec. 6, 2010 12:00 am  

First Southern Bank is already trying to track down Lewis' assets, which would help the bank recapitalize, the bank source said.

One of those assets is a 6,724-SF home in the Chenal Valley neighborhood he bought for $1.2 million in 2007.

In October 2008, Lewis took out a three-year, $2.5 million mortgage on the home. Also used as collateral on the loan from Capital Bank of Little Rock were two bonds identified as "Emerald Hill POID #1" in Lonoke County.

Your Whispers staff doesn't know much about Lewis, except what's available from legal websites like Lawyers.com and Martindale.com: He earned his undergraduate degree at State University of New York at Albany and law degree from the University of Arkansas. He received his law license in 1993 and hasn't had any disciplinary actions. His areas of practice include municipal financial, real estate finance and commercial real estate, the website said.

Stay tuned.

 

 

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