Arkansas Business' 25 Great Whispers (25th Anniversary)

by Arkansas Business Staff  on Monday, Mar. 23, 2009 12:00 am  

But, then again, the investors may decide to simply relocate the bank's 95-year-old charter there.

Allison's participation in the deal was preceded by his resignation from the Regions Financial Corp. board of directors. He and Adcock also resigned from the First National Bank of Conway's board of directors.

Allison was one of the largest shareholders in First Commercial Corp., which was acquired by Regions earlier this year. He aided the Conway bank's growth in the years before and after its sale to First Commercial.

July 5, 1999
More Shoes to Fall?
The Little Rock real estate community is abuzz about a possible criminal investigation ready to launch as a result of information detailed in the indictment of state Sen. Nick Wilson, D-Pocahontas.

The investigation would focus on alleged illegal fee-splitting between John Flake, Wilson and go-between Murrey Grider.

The sales under scrutiny involve the Union Bank Building in 1994 and Atkins Building in 1996.

Grider and Wilson weren't and aren't licensed to conduct real estate business, making it illegal for them to collect any money from the sales. Commission sources indicate that Flake, who is licensed, could be on the hook as an accessory and would face the same range of punishments as the unlicensed players.

All three men could be subject to a Class D felony if a complaint were pursued to its most vigorous prosecution.

What's the status of the state Real Estate Commission's investigation of the matter?

Limbo, we're told.

The commission has the authority to initiate an investigation, but that hasn't happened yet. Some skeptics believe it will take someone willing to step forward and make a formal, written, notarized complaint.

That would force the issue and put the commission in motion.



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