United States Sues Estate and Trusts of Deceased Man for False Claim to U.S. Treasury to Obtain $17.3 Million Investment in Arkansas Bank

The United States has sued the estate and trusts of the late Layton P. Stuart, former owner and president of One Financial Corporation, and its wholly-owned subsidiary, One Bank & Trust N.A., both based in Little Rock, Arkansas, alleging that Stuart made misrepresentations to induce the U.S. Department of the Treasury to invest $17.3 million of Troubled Asset Relief Program (TARP) funds in One Financial as part of Treasury’s Capital Purchase Program (CPP), the Justice Department announced today.