Hale Guilty of Lying to Regulators
Whitewater figure David Hale was convicted of lying to regulators about the solvency of his burial insurance company. The Pulaski County, Ark., jury recommended a sentence of 21 days in jail, but he could serve as few as 3 1/2 days with good behavior. Sentencing was set for April 5. He had faced up to eight years in jail. Hale was convicted of putting $150,000 into the bank account of the National Savings Life Insurance Co. to show it was financially stable, then withdrawing the money days later and lying about it still later.
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