Jury's Guilty Verdict Follows Belief That Jones Cash Poor

by George Waldon  on Monday, Oct. 18, 2010 12:00 am  

The Chenal Circle home was leveraged to the max, and this is where the first crack in their fiscal façade appeared less than four weeks before the 2008 fire. Jones missed a May 5 deadline to repay the second mortgage held by the former owners, Little Rock insurance executive Mark Brockinton and his wife, Kim.

Mark Brockinton was called to the witness stand on Sept. 22.

Peters: "The amount of the balloon payment was $331,000?"

Brockinton: "Yes."

Peters: "And did Mr. Jones timely make that payment?"

Brockinton: "No."

Brockinton learned of the missed payment from his accountant, whom he dispatched to collect the money. Contact with Jones was made on May 16, two weeks before the fire, and Brockinton later spoke with Jones.

Peters: "And what happened during your conversation with Mr. Jones? Please tell the jury."

Brockinton: "Sure. Of course, he knew why I was calling. And he was very forthcoming and just said, 'I know the payment's due. I'm not in a position to make that payment today.'

"And I said, 'Okay, what would you like to do?'

"And he suggested that he could - was in a position to pay $50,000, and he would like to meet to extend the note for another year at an appropriate interest rate, and that he thought he would be able to make good on that within that year."

According to testimony, the $50,000 Jones paid Brockinton to buy more time came from his mother-in-law, Nancy Reaves, courtesy of a cashier's check from Pulaski Bank & Trust.

 

 

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