Danny Ray Butler, who is currently serving a sentence for defrauding the Small Business Administration and check kiting against the $613 million Alabama One Credit Union in Tuscaloosa, Ala., came face-to-face with credit union lawyers and executives on May 22 in what legal observers at the meeting described as an intense hearing.
Butler pleaded guilty to the fraud in February 2014 and began serving a 36-month sentence in September 2014. The court convened the hearing at the federal prison facility in Talladega, Ala.
Alabama One had asked for a prison hearing in order to show Butler some of the documents and signatures that he claimed during a previous bankruptcy hearing he had never signed. However, observers from law firms who have an interest in the bankruptcy proceeding observed the strategy may have backfired on the cooperative.
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