One Bank Sues Owner Scooter Stuart's Son for Money Spent on House

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One Bank Sues Owner Scooter Stuart's Son for Money Spent on House

by George Waldon on Friday, Feb. 22, 2013 2:46 pm

The Pleasant Valley home of Hunter Stuart is the subject of a litigation filed by One Bank & Trust of Little Rock, where he was a vice president and his father is the majority owner.

According to One Bank's complaint, Scooter Stuart approved the invoices related to the remodeling work at his son's house, and Whitehead processed the payments and posted the entries to the bank's fixed asset system.

"The property renovation costs were paid from funds illegally diverted from (One Bank) between mid-2009 to mid-2011," the lawsuit alleges.

"The misappropriation and concealment of bank funds was done at the direction, and with the participation and knowledge of L. Stuart along with the assistance of Whitehead, and (Hunter Stuart) knew or should have reasonably known these payments were not authorized payments by the bank.

One Bank is seeking possession of the residence or a lien on the property to secure its financial claim, followed by a court-ordered sale of the home.