A federal judge has sentenced a former northwest Arkansas developer to more than five years in prison. Brandon Barber was sentenced Tuesday in federal court in Fort Smith after pleading guilty last year to bank fraud, bankruptcy fraud and money laundering.
Federal prosecutors had accused Barber of concealing his assets and income after he filed for bankruptcy, as well as defrauding banks for loans to finance real estate projects.
Barber was sentenced Tuesday to 65 months in prison. Court records show that U.S. District Judge P.K. Holmes III determined that the total amount of loss was more than $32 million, but no agreement on restitution was reached.
A hearing on restitution is scheduled for Jan. 5. Barber had faced up to 45 years in prison.