Affiliated Ex-CFO Found Guilty Of $11.5M Check Fraud

Law360, New York (June 3, 2011, 5:35 PM EDT) -- A former executive of defunct supermarket supplier Affiliated Foods Southwest Inc. was convicted in Arkansas federal court Thursday on charges that he orchestrated an $11.5 million check kiting scheme and defrauded U.S. Bank NA.

Alexander “Lex” Martinez, the former chief financial officer of Little Rock-based AFS, was found guilty of aiding and abetting bank fraud, conspiracy to commit bank fraud, and abetting false statements to a bank.

The jury took only 90 minutes to come back with a guilty verdict after three days of testimony. The...
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