Creditors: John L. Smith moved cash
LITTLE ROCK, Ark. -- Creditors are trying to block former Arkansas coach John L. Smith from liquidating $40.7 million in debt, saying he moved several properties and more than $2 million from his holdings before filing for Chapter 7 bankruptcy protection.
Federal bankruptcy court filings by Smith's creditors say he cashed $1 million in certificates of deposit in 2008 and he is "unable to explain the current location of the funds." The documents also allege that in 2008 and 2009, Smith transferred ...
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