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Mug Shot Monday – Former Bank CEO Sues SBA, IRS for Excessive Force in Execution of Search Warrant

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June 30, 2014

By Bob Coleman
Editor, Coleman Report

tornado-2The former CEO of HomeBank of Arkansas who has been indicted for SBA disaster loan fraud, has filed a lawsuit against the federal government.

John Stacks has been embraced as the poster child of government overreach, when federal agents conducted a “SWAT team raid” with drawn guns and detaining employees in the execution of a search warrant for documents of “economic crimes.”

Stacks was arrested in December for lying to the SBA about tornado damage to Mountain Pure, a water bottling plant he owns.

He is also charged with misrepresenting the financial health of Mountain Pure, specifically with bogus projections.

The lawsuit’s core is federal agents used excessive force when conducting the raid.

Says Stack’s attorney, “There are very few cases that deal with a SWAT raid when the government has no reason to believe that anyone at the location they are searching is armed or dangerous or drug dealers or gang members or anything of that sort.”

Writes The Log Cabin Democrat, “In response to the government raid, Stacks and several of his employees appeared in an online documentary called ‘Rampant Injustice’ that features a re-enactment of the para-military-style raid. Duncan Outdoors of Conway and Tennessee-based Gibson Guitar also appear in the documentary, with their leaders saying similar events happened at their businesses.”

Read more about the filed lawsuit

Read More here

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