Kevin Lewis -- Guilty

Posted in the Searcy Forum

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Since: Jul 11

Dallas, TX

#1 Aug 3, 2011
**Arkansas Democrat-Gazette**

LITTLE ROCK — A former Little Rock attorney has pleaded guilty to a scheme that prosecutors are calling the largest fraud in the history of Arkansas.
Kevin Lewis, 43, plead guilty to selling or using as collateral approximately $50 million in fraudulent bonds.

Lewis will be sentenced at a later date but he could face up to 30 years in prison and be ordered to pay restitution of nearly $40 million. Lewis, who was allowed to remain free pending sentencing, did not comment as he left the courthouse beside his attorney.

Prosecutors said Lewis sold fraudulent special improvement district bonds to First Southern Bank in Batesville and then used the proceeds to buy a controlling interest in that bank and make other fraudulent investments.
"Essentially, Mr. Lewis was operating what is commonly called a Ponzi scheme," U.S. Attorney for the Eastern District of Arkansas Christopher Thyer said during a news conference after the plea. "... He used much of these loan proceeds to further the fraud and he also used these proceeds to fund various businesses which he was involved with as well as to lead what can only be described as very opulent lifestyle."

The fraud, which was discovered during a routine audit by the FDIC in October 2010, forced First Southern Bank into receivership and caused a "significant loss" for many others, Thyer said. Prosecutors say Centennial Bank, Citizens, Liberty Bank, First Community, Allied, Simmons and Regions Bank also provided loans to Lewis which were backed by fraudulent bond collateral.

Thyer twice called it the largest fraud ever in the state, noting civil lawsuits will likely continue for years to come but there will never be enough money collected from Lewis to repay all the victims.

The number of victims "goes way up," Thyer said, if you consider the individuals affected by the bank loss, such as First Southern Bank shareholders. At least five lawsuits have already been filed by Arkansas banks against Lewis.

While Lewis could be sentenced up to 30 years in prison by U.S. District Judge James Moody, it's unlikely he will receive that much prison time. Thyer said sentencing guidelines - which take into account past criminal convictions and other factors - indicate a likely sentence of 10 to 13 years.
No sentencing date was set, but such hearings often occur within about 90 days of a conviction.

Lewis spoke during the hearing Wednesday before Moody, but only to acknowledge he understood his rights, was aware of the maximum prison term and that he was pleading guilty to the crimes as alleged by prosecutors.
At one point, Moody asked if Lewis understood that his plea made him a felon, a status which prevents him from certain rights and licenses.
"Regrettably, yes sir," Lewis replied.

Read tomorrow's Arkansas Democrat-Gazette for full details.
Giant Thief Kevin Lewis

United States

#2 Aug 4, 2011
Feds said yesterday he could get "as much as" 10-12 years in the pen.
Not much for a theft of $50 Million Dollars!
Guest

Searcy, AR

#3 Aug 4, 2011
Do his parents live in Searcy?
Giant Thief Kevin Lewis

United States

#4 Aug 4, 2011
Guest wrote:
Do his parents live in Searcy?
Yes, they do.
snowball

Fort Worth, TX

#5 Aug 4, 2011
Giant Thief Kevin Lewis wrote:
Feds said yesterday he could get "as much as" 10-12 years in the pen.
Not much for a theft of $50 Million Dollars!
10 to 12 years for a soft man like him could be very rough. Just sayin. He deserved more for all the lives he's screwed up!
50 Million Dollars Theft

United States

#6 Aug 4, 2011
Guest wrote:
Do his parents live in Searcy?
Pretty sure they were officers in his biggest sham corporation.
Old Army

Greenbrier, AR

#7 Aug 4, 2011
If that's true, present some proof. If it's not true, why are you starting shit? I wouldn't blame your parents for you acting like an ass.
Old Uninformed Army

Searcy, AR

#8 Aug 4, 2011
Old Army wrote:
If that's true, present some proof. If it's not true, why are you starting shit? I wouldn't blame your parents for you acting like an ass.
you need to read the news reports dummy.
Old Army

Quitman, AR

#9 Aug 5, 2011
You didn't answer my question to the other ass. What proof do you have that his parents were in on his fraud?
guest

Little Rock, AR

#10 Aug 5, 2011
Actually related to the family and trust me their family was just as surprised as everyone was... And keep in mind he does have a family and every negative thing said affects them... Yes it was wrong money just has it's way of changing ppl!!!!
Theives Facts

Searcy, AR

#11 Aug 5, 2011
To Old Army: Check out Kevin Lewis' "PA Trust Alliance" that was at the heart and center of his massive financial theft. I think you sill find that the officers of that corporation where the money went were his parents. Whether they were in on their son's scams, who knows?
Guest

Fort Worth, TX

#12 Aug 5, 2011
Theives Facts wrote:
To Old Army: Check out Kevin Lewis' "PA Trust Alliance" that was at the heart and center of his massive financial theft. I think you sill find that the officers of that corporation where the money went were his parents. Whether they were in on their son's scams, who knows?
Also related to the family the "pa"trust which stands for kevins two children. The trust was formed by the grandparents for their grandchildren to b taken care of and that is what Kevin used to puchase the majority of that bank. That does not mean that they were in on his scam!!! Kevin plead guilty WTF else do you want him to do? I firmly believe that he will get what he deserves but leave his mom and dad out of it! Until they are indicted then leave them alone!
Wow

Searcy, AR

#13 Aug 5, 2011
He is getting off awful light for stealing $50 Million dollars.
Old Army

Quitman, AR

#14 Aug 6, 2011
I don't think 30 years in prison is getting off awful light. Now going scot-free for murder as O.J. Simpson and Casey Anthony did is awful light.
Slap on the wrist

Searcy, AR

#15 Aug 6, 2011
Old Army wrote:
I don't think 30 years in prison is getting off awful light. Now going scot-free for murder as O.J. Simpson and Casey Anthony did is awful light.
he won't even get that much time. And he is out walking the street right now!
aware

United States

#16 Aug 6, 2011
He got ten years in a federal prison. More like summer camp. Will be out in 7. Only recovered $1 mil in assets. He will have a nice retirement awaiting him somewhere
Where money go

Searcy, AR

#17 Aug 6, 2011
Was money funneled to his parents in Searcy as "officers" of his sham corporation??????????
Guest

Fort Worth, TX

#18 Aug 6, 2011
Where money go wrote:
Was money funneled to his parents in Searcy as "officers" of his sham corporation??????????
They were IN NO WAY involved u fking idiot. Where does is say anywhere on the news or in the paper that they were involved. Other than the "pa alliance" that was started by them !!!! His parents had money long before he did this stupid crap but he has always been a little greedy. They are family so spare his teenage children involved the pain of having to read more stuff about their dad! He will soon go to prison and pay for what he has done !
Kevin Lewis Fifty M Theft

Searcy, AR

#19 Aug 6, 2011
Guest wrote:
<quoted text>They were IN NO WAY involved u fking idiot !
BS! Their son Kevin Lewis has been a POS and con man his whole life! They raised him. And they knee deep in his corporation that got all their son's stolen millions.
Kevin Lewis Fifty M Theft

Searcy, AR

#20 Aug 6, 2011
Guest wrote:
he has always been a little greedy.
"a little greedy"?????? Are you just a Kevin Lewis family posse member - or out of your mind? He stole $50 million!

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