Fort Smith Man Charged With Multiple Counts Of Fraud, Money Laundering
FORT SMITH (KFSM) — A man is behind bars after he was arrested and charged with multiple counts of fraud.
Samuel Bowron Phillips, 41, was charged on suspicion of the following charges:
- 11 counts of mail fraud
- 1 count of wire fraud
- 3 counts of money laundering
A complaint alleged that beginning in or about 2013 and continuing through and including November 2015, Phillips devised and executed a scheme to defraud customers of his insurance business by withdrawing funds from their annuity and insurance policies without their consent and knowledge, and used the money for his personal benefit and gain, according to a release from Western District of Arkansas Attorney Kenneth Elser.
Phillips ran an insurance agency, Sbp Inc., from his house off Meandering Court.