Robert Srygley, the former president of the Arkansas Check Cashers Association Inc., loaned a lobbyist $1 million last year and it didn’t end well.
Srygley, of Springdale, first loaned Don Tilton of Little Rock $750,000 in May, with the principal and interest due on Dec. 31, according to the lawsuit Srygley filed last month in Washington County Circuit Court.
The proceeds of the loan were for the building of a home in Pulaski County owned by Tilton’s trust, the suit said.
In August, Tilton borrowed an additional $250,000 for construction of the home. The payment for that loan was also due at the end of 2020.
The suit said Tilton didn’t make payments on Dec. 31, and now owes $1 million plus $41,000 in interest as of Jan. 13.
Srygley is seeking a judgment for the money plus other damages. He is represented by attorneys Larry McCredy and Taylor Baltz of the RMP LLP firm in Springdale.
Tilton told Whispers last week that he and Srygley have “been friends for a long time, and we’re close to resolving the matter. At this point, probably the best thing to say is ‘no comment.’”
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