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Arkansas State Senator Pleads Guilty to Fraud and Money Laundering
Arkansas State Senator Jake C. Files pleaded guilty to wire fraud, bank fraud, and money laundering in front of Chief U.S. District Judge P. K. Holmes III of the Western District of Arkansas on Jan. 29, 2018. Files, 45, who represented Arkansas State Legislature District No. 8 and served as chairman of the Senate Revenue and Tax Committee, admitted to orchestrating a scheme to pilfer $46,500 from the state treasury. He also admitted to submitting a false loan application in order to secure an almost $57,000 bank loan.
Files' embezzlement scheme centered around the Arkansas General Improvement Fund, which provides money to counties and municipalities for various economic development projects. Between August and December 2016, Files used his position as a state Senator to direct the Western Arkansas Economic Development District, which was in charge of General Improvement Fund money for Files' district, to provide $46,500 to the City of Fort Smith for a water line project related to the construction of the River Valley Sports Complex, which has been plagued by constructing lags and corruption accusations since its 2012 inception. Files also submitted three false bids to the Western Arkansas Economic District in order to ensure that the cash would be released to him.
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