Posts Tagged ‘Bob Coleman’

December 16, 2013 By Bob Coleman Editor, Coleman Report “I’m writing today because neither I nor my employees have done anything wrong.” That is the opening statement Arkansas-based HomeBank CEO wrote to the Log Cabin Democrat in response to his 11 count bank fraud indictment on December 4th. Federal prosecutors allege John Stacks unfairly profited…

December 10, 2013 by SBA Complete SBA just recently released the newest version of the SOP 50 10 5 (F), effective January 1, 2014. Even though the new rules don’t become effective for another month, now is the time to review, interpret, and commit it to memory. Keep in mind that SBA requires the applicant…

December 9, 2013 by Bob Coleman Editor, Coleman Report A Texas meat company founded in 1940 abruptly closed its doors after 70 years, laying off hundreds of workers. And now the small business owner will probably go to jail. The son of the founder pled guilty to one count of bank fraud last week and…

December 6, 2013 By Bob Coleman Editor, Coleman Report An Arkansas community bank CEO was indicted on 11 counts of bank fraud in connection with a SBA disaster loan. John Stacks also owns Mountain Pure, a water bottling plant. After a tornado struck the area in 2008, the company received a $700,000 SBA disaster loan.…

December 2, 2013 Bob Coleman Editor Coleman Report That works out to be $1600 a month, or $9 an hour. Says the FBI, “Ross Franco of Midland was sentenced to 18 months in federal prison for his role in a loan scheme in which a Midland credit union sustained losses in excess of $4 million.…

November 29, 2013 Bob Coleman Editor Coleman Report In a week that saw the Feds asking a judge to add a Wells Fargo banker to their civil lawsuit, not criminal, civil lawsuit, for his “critical role” in hiding $189 million worth of fraudulent home loans, we note this four county felony criminal indictment out of…

November 27, 2013 Bob Coleman Editor Coleman Report Nevada State Development Corporation Promotes Yolie Kelley To Marketing/It Manager “In 2013, business relationships are built on Facebook as often as a handshake,” said Debra Alexandre, president of Nevada State Development Corporation. “Websites, newsletters, and other digital social tools have taken over in modern commerce and you…

November 26, 2013 By Bob Coleman Editor, Coleman Report I confess, I’ve heard about “Small Business Saturday,” the Saturday after Black Friday, that encourages everyone to shop locally, but haven’t paid too much attention about the coverage. Did you know the day started only three years ago as a marketing campaign by American Express? It’s…

November 25, 2013 By Bob Coleman Editor, Coleman Report In a trial that saw the ex-president of failed Bank of Commonwealth get 23 years for bank fraud, a banker that cooperated with the FBI and testified for the prosecution was sentenced to no jail time. He received a one year house arrest, five years probation…

November 22, 2013 By Bob Coleman Editor Coleman Report   Well, his personal financial statement said he was worth $169 million. Arkansas-based OneBanc approved a $1.5 million line of credit to to the owner of patents for technology related to a more efficient combustion engine. Says the FBI, “Alberto Solaroli falsified the nature and scope…