Convicted real estate developer Brandon Barber may be sitting in a federal prison in Pennsylvania, but on Wednesday, he picked up a significant victory in Fort Smith.
U.S. District Judge P.K. Holmes III filed a 16-page restitution order saying that Barber is only obligated to pay $450,000 to First Federal Bank of Fayetteville for his role in a bank fraud scheme.
That is substantially less than what federal prosecutors had in mind for Barber, who pleaded guilty in July 2013 to three federal charges — conspiracy to commit bank fraud in the First Federal Bank loan case, and money laundering and conspiracy to commit bankruptcy fraud — and was sentenced Oct. 28 to 65 months in federal prison and three years of supervised release.
A restitution hearing was held Jan. 5 in Fort Smith. Springdale... [ MORE ]