White-Collar Roundup: Standridge Delayed, Moser and Washburn Released

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

The recent rash of indictments out of the U.S. Attorney’s Office in Little Rock, including that of Rickenbach, reminds us to do some catch-up on other cases of interest:

• The trial of Steve Standridge, the former high-flying insurance agent from Mount Ida, which was scheduled to start last week before U.S. District Judge Susan Hickey in El Dorado has been postponed until Sept. 8.

That’s the case brought in November by federal prosecutors for the Western District of Arkansas in which Standridge is charged with wire fraud, mail fraud, money laundering, bank fraud and making false statements for a total of 23 counts.

The charges stem from a number of loans he got, and attempted to get, from friendly customers under false pretenses as his insurance empire was crumbling in late 2009 and early 2010.

Standridge is separately charged with 12 federal felony counts related to alleged bank fraud in the Eastern District of Arkansas, and that trial is scheduled to start on July 14 before U.S. District Judge Brian S. Miller.

But the motion that Standridge’s lawyer in the Western District case, Louis L. Loyd of Malvern, filed in order to get the trial postponed suggests there may be no trials at all because “the U.S. Attorney’s office and the Defendant are in negotiations to attempt to reach a global disposition.”

• Keith Moser, once one of the go-to tax attorneys in Little Rock, has been released from the federal correctional facility at Forrest City. The federal Bureau of Prisons was no help in determining exactly when he was allowed to leave. His sentence doesn’t officially end until June 21, so he may have gone to a halfway house.

Moser pleaded guilty to 13 felony counts in May 2005 in connection with stealing client funds and other bad deeds, including an extortion plot in Detroit. After briefly fleeing to Madagascar he was sentenced to more than 15 years in federal prison, but his sentence was reduced in exchange for testifying against his former law partner, Barry Jewell, who finished serving his time for tax evasion in 2011.

• Dana Washburn, the Rogers property manager and executive recruiter who defrauded IberiaBank Corp. out of almost $3.6 million in 2008 by falsifying collateral, has similarly finished her stint in federal prison in Fort Worth.

Her sentence doesn’t officially end until July 30, but we couldn’t determine exactly when she got out or where she currently resides.

Washburn — whose husband, Colon, was a Wal-Mart executive and then the developer of the Beau Terre office park in Rogers — agreed to pay $3.58 million in restitution when she pleaded guilty in May 2009 and finally went to prison in August 2011.

She was sentenced to 41 months in prison, but that has apparently been reduced slightly for good behavior. She will still be under court supervision for five years.

Court records don’t indicate, and IberiaBank wouldn’t say, whether she has paid any of the restitution.

 

 

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