Springdale Business Owner Says Money Management Team Stole $400K
by June 6, 2016 12:00 am 695 views
A Northwest Arkansas business owner is suing a former money management company for nearly $1.7 million after he claims it stole almost $400,000.
On May 31, Jimmy Lunsford, president of Lunsford Door & Dock Inc. in Springdale, filed a complaint in Benton County Circuit Court against Full House Holding LLC, Teresa Borchert and David Borchert. Full House Holding was established in September 2011 but has since been dissolved, according to the Arkansas Secretary of State.
The lawsuit claims the Borcherts stole $391,217 from Lunsford by writing checks from his account to themselves. Also, Lunsford said he gave $75,000 to David Borchert in order to pay tax debts, but he used it for himself, court documents show.
In total, Lunsford is asking for more than $1.69 million in damages.
J. Christopher Harris of Hatfield Harris in Rogers is Lunsford’s attorney.
Circuit Judge Xollie Duncan will hear the case.