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New Documents: John L. Smith's Debt Reaches $40 Million

By: KARK 4 News, Little Rock
Updated: October 3, 2012
Arkansas Razorbacks head football coach John L. Smith filed new documents on Wednesday that show he has more than $40 million in liabilities.

According to USAToday.com, Smith filed amended documents that show a newly listed debt of $15 million owed to Branch Banking and Trust in Louisville, Ky.

Coach Smith also cashed in a life insurance policy in order to pay bills and add money to his checking account, according to the article.

Smith filed for Chapter 7 bankruptcy in early September.

To read the original article, click here.

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