John Stacks
HomeBank Owners Divvy $11.8M in Cash
Barksdale Federal Credit Union of Bossier City, Louisiana, agreed to pay $11.8 million for the $65.2 million-asset HomeBank of Arkansas. read more >
by George Waldon -
FDIC Enters Consent Order With ‘Unsafe or Unsound’ HomeBank of Arkansas
The April 8 order, which was released publicly by the FDIC on Friday, charges the leadership of the $76 million-asset lender with unsafe or unsound banking practices. read more >
by George Waldon -
No Word on Whether HomeBank Plans to Pass on Cannabis Banking
It’s been almost exactly a year since Whispers first reported that HomeBank had hooked up with a third-party vendor of cannabis banking services, Safe Harbor Services LLC, a subsidiary of Partner Colorado Credit Union. read more >
HomeBank of Arkansas to Bank Medical Marijuana Industry
A small Arkansas bank is stepping forward to provide banking services to the medical marijuana industry. HomeBank of Arkansas officially announced plans to team with Safe Harbor Services, a subsidiary created last year by Partner Colorado Credit Union. read more >
by Lance Turner -
Presumed Innocence II (Gwen Moritz Editor’s Note)
When the U.S. Attorney’s Office in Little Rock is involved, the presumption of a defendant’s innocence must be more than theoretic, and confidence that the power of the government is being used fairly and wisely must be tempered.” read more >
by Gwen Moritz -
Presumed Innocent (Gwen Moritz Editor’s Note)
While I firmly believe in the presumption of innocence, I used to also assume that the awesome power of the government — especially the federal government — is never wielded cavalierly. The John Stacks case has challenged that assumption at every turn. read more >
by Gwen Moritz -
John Stacks Sees Charges Dismissed
The five-year battle between the federal government and John Stacks ended July 20 when the U.S. Attorney for the Eastern District of Arkansas dismissed an indictment against the former owner of Mountain Pure LLC. read more >
by Mark Friedman -
Federal Appeals Court Upholds Ruling in Search of Mountain Pure Water
A federal appeals court panel has upheld a lower court ruling that federal agents acted lawfully during a search and seizure at a Little Rock water bottling facility. read more >
by Associated Press -
Mountain Pure Sues Supplier for Selling Resin Mixed With Metal
Even though the assets of the water bottling company were sold last year after a foreclosure auction on the steps of the Pulaski County Courthouse, John Stacks retained control of the shell of the company. read more >
Judge Dismisses Lawsuit Over Search of Mountain Pure
U.S. District Judge Kristine G. Baker dismissed a lawsuit last week filed by Mountain Pure LLC of Little Rock and some of its employees over a 2012 search of the company's headquarters by federal agents. read more >
Fed Files Appeal Against Mountain Pure’s John Stacks
As expected, federal prosecutors in Little Rock have filed an appeal with the 8th U.S. Circuit Court of Appeals in hopes of preserving the seven convictions it won against John Stacks, owner of the Mountain Pure bottled water company. read more >
The Top 10 Business Stories of 2014
Politics, white-collar crime, banking acquisitions, Turner Grain and more. Arkansas Business recaps the top 10 stories from the year that was 2014. read more >
Judge Sets Aside Guilty Verdicts Against John Stacks
A federal judge in Little Rock has reversed Mountain Pure LLC owner John B. Stacks' conviction on two counts of making false statements to the Small Business Administration and ordered a new trial on five other counts of which he was convicted by a jury in October. read more >
by Gwen Moritz -
Mountain Pure Has New Owner After Stacks Conviction
John B. Stacks’ rough year continued last week when his Mountain Pure operations were handed over to a new owner after a foreclosure auction on the steps of the Pulaski County Courthouse. read more >
John Stacks, Mountain Pure Owner, Convicted of Seven Federal Counts
A federal court jury deliberated for most of three days before reporting that it was hung on three additional counts of money laundering. read more >
by Gwen Moritz -
Fed Uncaps Its Case Against Mountain Pure’s John Stacks
The criminal trial of John Stacks, owner of Mountain Pure water bottler and former CEO of HomeBank of Arkansas, commenced last week before U.S. District Judge Leon Holmes, 12 jurors and two alternates. read more >
Conway Retailer Patrice Duncan Pleads Guilty to Federal Felony Charge
Patrice Duncan, an owner with her husband, Gary, of Duncan Outdoor in Conway, has pleaded guilty to a single count of structuring a financial transaction in order to evade bank reporting requirements on cash deposits of more than $10,000. read more >
by Gwen Moritz -
Simmons First Sues Mountain Pure for Defaulting on $16.5M in Loans
Simmons First National Bank has sued Mountain Pure and its owner, John B. Stacks, for defaulting on $16.5 million worth of loans. Meanwhile, Stacks is launching a website to offer his take on events surrounding his indictment in separate case. read more >
by Mark Friedman -
More Legal Battles Pile Up for Mountain Pure’s John Stacks
In the first of two lawsuits filed against the water bottling company this month, North Bay Investors LTD of Miami Beach, Fla., sued Mountain Pure and its owner, John B. Stacks — who is facing federal felony charges in an unrelated matter — over a deal that collapsed late last year. read more >
Lawsuit Makes Splash Against Mountain Pure
Georgia-Pacific Corrugated LLC of Atlanta, a supplier of cardboard packing material, has filed a civil lawsuit in Pulaski County Circuit Court alleging that Mountain Pure and its related entities, Mountain Pure MS LLC and Mountain Pure Texas LLC, haven’t paid their bills. read more >
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