U.S. Attorney Dak Kees announced today that a former Arkadelphia insurance executive, Berry Roland Bishop, 67, had been sentenced to five years in federal prison for bank fraud.
Bishop, who owned Alliance Insurance Group of Arkadelphia and was president of M&B Insurance Properties, was accused of misrepresenting his financial condition (he had financial liabilities he didn’t disclose) to get loans from Citizens Bank and forged signatures from clients to obtain loans from the Bank of Prescott. A news release said Bishop obtained more than $3.5 million in fraudulent loans. He was charged and entered a guilty plea in December. He was sentenced in Hot Springs by federal Judge Susan Hickey.