LITTLE ROCK, AR –Former Little Rock attorney David Patrick Henry, Sr., 71, has been sentenced to five years in prison followed by two years of supervised released, according U.S. Attorney Christopher Thyer. Henry, Sr. is also ordered to pay over a million dollars.
On March 21, a federal jury found Henry Sr., guilty of 25 counts of mail fraud and three counts of tax evasion.
In March of 2002, Henry Sr. was named as a trustee of the Joe Swaffar Irrevocable Insurance Trust, totaling to around $1,641,614 at the time of Joe Swaffar’s death.
By using false and fraudulent pretenses, Henry Sr. kept the beneficiaries away from and took away control of their money. Funds from the Swaffar life insurance policies were placed in various bank accounts that only Henry Sr. had access to.
Henry Sr. used the money to pay form personal health insurance, personal electric bills, cable television bills, mortgage notes for both of his sons, a vehicle for one of his sons and other things.
He claimed to have paid himself $2000 a month for services he allegedly performed, but the document did not state the Trustee gets paid and the beneficiaries did not agree to it.
Henry Sr. must pay $862, 086.74 to the Swaffar Trust and $159, 047 to the IRS.
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