x
Breaking News
More () »

Fort Smith/Fayetteville News | 5newsonline KFSM 5NEWS | Get the local news and weather where you live from 5NEWS. Covering Fort Smith, Fayetteville, Bentonville, and all of Northwest Arkansas and the River Valley.

Lawsuit accuses Fayetteville mayoral candidate Tom Terminella of fraudulently shielding assets

A lawsuit filed alleges Fayetteville businessman Tom Terminella, a candidate for Fayetteville mayor, is shielding his assets to hinder, delay, and defraud a creditor

FAYETTEVILLE, Ark. — A lawsuit filed Tuesday (Oct. 13) alleges Fayetteville businessman and real estate broker Tom Terminella, a candidate for Fayetteville mayor, is shielding his assets to hinder, delay, and defraud a creditor.

That’s the accusation made by a Rogers attorney in a complaint filed in Benton County Circuit Court against Terminella, his wife and their related business entities.

Brian Ferguson alleges Terminella is diverting assets to his wife, Monica, through various business entities to keep the money shielded from a court-ordered judgment against Terminella dating back more than a decade.

Terminella released the following statement to 5NEWS:

"It is beyond curious that this lawsuit was filed just before the mayoral election in which I am a candidate. To believe that was simply coincidence strains ones imagination. I am more than a little upset with this outfit, from whom I have never borrowed a dime, suing me and, even more so, by them suing my wife.  I suppose this case points out that fact that if you have $165 dollars anybody can sue anybody for anything."

To read more about this story please visit our content partner, Talk Business & Politics.