Negotiated plea | Arkansas Blog

Negotiated plea


 Warren Overton entered a negotiated guilty plea today to a single count of bank fraud. He'll be sentenced later, but his admission to kiting a $750,000 check and causing some $1.3 million in losses likely will expose him to a minimum sentence under federal guidelines in the three- to four-year range. In return for the plea, Justice Department lawyers dismissed eight other counts, a spokesman said Overton also was orded into a 28-day inpatient substance abuse treatment program, followed by clinical supervision in advance of sentencing. Overton was indicted in November over unpaid mortgages on his former home in the Country Club of Little Rock vicinity. Some of the money he lost went to cover losses in securities accounts he managed. Overton acknowledged an alcohol problem in his appearance today before federal Judge Leon Holmes, Arkansas Business reported.

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