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SECURITIES & EXCH. COM'N v. ARKANSAS LOAN & THRIFT CORP.

No. FS-68-C-9.

297 F.Supp. 73 (1969)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. ARKANSAS LOAN & THRIFT CORPORATION, an Arkansas corporation, Savings Guaranty Corporation, an Arkansas corporation, United Loan & Investment Company, an Arkansas corporation, Ernest A. Bartlett, Hoyt Borum, and Afton Borum, Defendants.

United States District Court W. D. Arkansas, Fort Smith Division.

March 13, 1969.

Attorney(s) appearing for the Case

Robert F. Watson, Fort Worth, Tex., for S.E.C.

William B. Putman, Fayetteville, Ark., John H. Fitzhugh, Fort Smith, Ark., for the Receiver.

Sam Sexton, Jr., Fort Smith, Ark., for defendants.

OPINION

JOHN E. MILLER, Senior District Judge.

This is another chapter in the tortuous transactions of Arkansas Loan & Thrift Corporation (AL&T) and its subsidiaries, United Loan and Investment Company (United) and Savings Guaranty Corporation (Savings), all incorporated under the laws of Arkansas.

On March 11, 1968, the plaintiff, Securities Exchange Commission (SEC), filed its complaint containing two counts, in which it alleged that the...

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