Arvest Bank can be added to the list of plaintiffs suing troubled investment adviser Adam Kuettel and his firm, Kuettel Capital LLC of Bentonville.
The Fayetteville bank said in a lawsuit filed last week in Benton County Circuit Court that Kuettel’s firm defaulted on loans and owed more than $350,000. Kuettel also personally guaranteed the loans.
The bank is seeking a judgment for the amount plus interest and attorney’s fees and, if that’s not paid, to foreclose on Kuettel’s property that was used as collateral, according to the lawsuit filed by the bank’s attorney Scott Tidwell of Matthews Campbell Rhoads McClure Thompson of Rogers.
Attorney Roger Butler Jr. of Tulsa, who has represented Kuettel Capital in other lawsuits, didn’t immediately return a call for comment.
In June, the Arkansas Securities Department suspended the registration of Kuettel as an investment adviser representative and also suspended the company that he founded, Kuettel Capital as an investment adviser, over allegations that include securities fraud and unsuitable recommendations.
This year, Kuettel has been sued by angry clients who said their investments with Kuettel Capital lost millions of dollars in value. Those cases are pending.
The 36-year-old also has pending felony aggravated assault on a family or household member stemming from an alleged incident on March 30, according to the criminal information sheet. He pleaded not guilty in that case.
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