Wife of Arvest Banker, H. Dennis Smiley, Jr., Files Chapter 7 Bankruptcy
Cynthia Smiley, wife of former Arvest
banker H. Dennis Smiley Jr., has filed Chapter 7 bankruptcy in the Western District of Arkansas
. Mrs. Smiley filed her bankruptcy individually, claiming that most of the $2.29 million in debts she is seeking to discharge are related to her businesses.
According to an article by Kim Souza for www.thecitywire.com
, Mrs. Smiley lists her profession as a self–employed Realtor and decorator with $0 monthly income. She lists other business income of $2,441 per month. For tax year 2014 she claimed $19,535 in gross income from real estate sales and decorating fees; she earned $7,467 in 2013 and $3,280 in 2012.
Co–debtors listed in Cynthia Smiley’s bankruptcy filing include her husband; Design for the Home LLC
, a business entity of the couple; her father–in–law Henry Dennis Smiley Sr. and HDS Holdings
Major creditors include: Arvest Bank, Bank of America, American Express Credit Card, Bank of Arkansas, Capital One Bank/Saks, Centennial Bank, Citibank Credit Cards, Community First Bank, Dillards Credit Card, First Federal Bank, First Security Bank
(debt paid in full with sale of debtor’s home), First State Bank of Lonoke, First State Bank of Russellville, First State Bank of NWA , First State Bank of, Integrity Bank, Legacy National, Neiman Marcus Credit
Card, Sears Credit Card, Security Bankcard Center, Signature Bank of Arkansas, Simmons First Bank and United Bank.
The bankruptcy filing reveals that the Smiley’s home in Pinnacle Country Club
was sold in September, with Arvest Bank and First Security Bank receiving payments for release of the second lien on the home.
The back-story from the news report: “H. Dennis Smiley Jr. was forced to retire as president of Arvest Bank-Benton County in March when possible loan fraud was discovered. Smiley reportedly borrowed an estimated $4.5 million from more than a dozen Arkansas banks dating back to 2009, according to Uniform Commercial Code
filings with Arkansas Secretary of State
. There are numerous civil lawsuits pending against Smiley and her husband in Benton County. Trial dates for those hearings will be set in the spring of 2015. Criminal investigations against Dennis Smiley for bank fraud continue, but no charges have yet been filed.”
Bankruptcy fraud is a federal crime. The attorneys at Client First Bankruptcy
take their obligation seriously. Our attorneys approach each case with care and precision and we request relevant documentation to be able to protect its clients from allegations like these. Don’t go to less experienced or less careful attorneys who try to sell you on ‘fast relief’ or ‘speedy filings’. Haste often leads to bigger problems than those that caused the client to seek representation in the first place.
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attorneys are among the most knowledgeable consumer bankruptcy attorneys in the country, representing thousands of clients in consumer bankruptcy cases. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m.-6:00 p.m. Central Time. You can also log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com
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