KSLA News 12 Shreveport, Louisiana |Ark. developer indicted for fraud, arson
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Associated Press - October 8, 2009 6:54 PM ET
LITTLE ROCK, Ark. (AP) - The U.S. attorney's office says a Saline County developer whose family occupied a large home in west Little Rock that burned in May 2008 has been indicted on fraud and arson charges.
A news release from the office of U.S. Attorney Jane Duke said Aaron Jones, 33, was indicted Thursday by a federal grand jury on three counts of mail fraud, one count of the use of fire in the commission of a federal felony and one count of arson in connection with the destruction of his Chenal Valley home.
According to the indictment, at the time Jones' home burned on May 30, 2008, it was listed for sale at a price of $1.6 million - down from an initial asking price of $2.2 million. The indictment said Jones and his wife had missed making a balloon payment of $331,000, and had to renegotiate a mortgage.
The indictment says Jones later claimed a loss of $2.8 million from the fire, and an insurance company paid $1.2 million to the primary mortgage holder.
Jones told police after his home burned that he was bound and gagged by an intruder who then set fire to the house.
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