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The president of a Batesville bank said Monday he fears that some of the bonds purchased by his financial institution since it opened in 2005 may be worthless.
The Arkansas Business newspaper reported Monday that as much as $22 million bought by the First Southern Bank of Batesville may be fraudulent and that federal regulators were investigating. Bank President and CEO Woody Castleberry told The Associated Press he hadn’t heard from the bond salesman in at least a month.
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