One Bank Sues David Crews, Says $1.3 Million Loan Defaulted

by Arkansas Business Staff  on Monday, Apr. 21, 2014 12:00 am  

One Bank & Trust has slapped a lawsuit against David Crews of Little Rock in an attempt to collect $1.3 million on a defaulted promissory note he took out in July.

Crews, as you might remember, was referred to but not charged in two recent indictments relating to One Bank’s loan of $1.5 million to a Florida penny-stock operator back in 2007.

In the lawsuit against Crews filed earlier this month, One Bank said Crews borrowed $1.23 million on July 29. There wasn’t any collateral tied to the loan, according to the court filing in Pulaski County Circuit Court.

The first payment of $77,650 was due on Jan. 29. But he allegedly didn’t make that payment, which triggered the default, the lawsuit said.

The bank said the total amount due on April 4 was $1.3 million and interest is accruing at nearly $140 a day.

Crews told us last week that he’ll respond to questions “when the time is appropriate.”

The lawsuit also names Crews’ wife, Samantha, as a defendant, because she signed for the loan.

The bank is seeking the $1.3 million plus court costs and attorneys’ fees.

David Crews’ name has been in our paper lately because he was referred to — as “D.C.” — in federal indictments against former One Bank EVP Gary Rickenbach and penny-stock operator Alberto Solaroli. Crews was a One Bank customer who also invested in Solaroli’s business, according to prosecutors.

Rickenbach was charged earlier this month with conspiracy to defraud the government and conspiracy to commit money laundering. And a federal grand jury in Little Rock indicted Solaroli in November on one charge of bank fraud.

A trial date hasn’t been set yet in Rickenbach’s case and Solaroli’s is set for Aug. 11.

 

 

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