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No Timetable for Plea Deal in Dennis Smiley Jr. Case

1 min read

Whispers admitted it was going out on a limb by predicting in April that a plea deal for Arvest Bank’s former Benton County market president Dennis Smiley Jr. was likely within a couple of weeks.

We, and our sources, were clearly too optimistic.

This time we won’t predict a timetable. But we are assured that a plea deal with federal prosecutors is still in the works, held up primarily by objections from a couple of victims.

Smiley’s victims were 20 banks doing business in northwest Arkansas who loaned him an aggregate of about $4 million, mainly secured — over and over again — by his Arvest retirement fund that was worth about $550,000.

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