Printer Friendly

The epic continues.

The Epic Continues

W.A. "Tony" Rand, who aspired to own one of the nation's largest theater chains, is watching a lousy movie unfold.

We're sure you know the 50-year-old, would-be mogul - who, by the way, in a 1989 power move helped take control of National Bank of Arkansas - was convicted Aug. 9 of 26 counts of fraud and money laundering.

Rand faces fines of more than $7 million and up to 300 years in prison.

You can now add to that the fact that the government's Resolution Trust Corp. is on Rand's tail.

We hear the RTC has hired a Houston private investigator, Edmund Pankau, to look into Rand's loans from failed Texas banks. About $17 million was obtained by Rand to finance his silver screens, and the RTC wants to know where its money went.
COPYRIGHT 1991 Journal Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:W.A. "Tony" Rand of theater-chain fame is convicted of fraud
Publication:Arkansas Business
Date:Aug 19, 1991
Previous Article:Head for cover.
Next Article:Reconstructing the past.

Related Articles
Former Hot Springs man cited in gas well deals.
Rand brothers disappoint investors: suits allege brothers' separate energy firms failed to deliver.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters