Former SBA manager’s trial postponed

Larry Steven Aduddle, of Springfield, was indicted by a federal grand jury in May. He had served as SBA branch manager since 2004.

Federal prosecutors allege that Aduddle falsified information on a loan application for Amarillo Scottie’s LLC, a frozen custard stand in Amarillo, Texas, at Mid-America Bank and Trust Co. in Dixon, Mo., on April 10, 2006.

According to the indictment, Aduddle allegedly indicated he owned stock in Metropolymer Labs Inc. on a personal financial statement he submitted to the bank in an $80,070 loan application. Aduddle allegedly claimed the stock was valued at $235,000 when he knew the stock was of little or no value, according to court documents.

Aduddle told Springfield Business Journal in June 2005 that he owned and operated Nixa-based Metropolymer Labs from 1991–2001, when he sold the company and moved to Kansas City for a job with the U.S. Department of Homeland Security. Aduddle also allegedly made false statements to the SBA on Feb. 5 of this year when he said he had no reportable liabilities and no reportable outside positions. In fact, Aduddle had an $80,000 obligation, representing his debt on the SBA-guaranteed loan at Mid-America Bank and Trust Co., according to the indictment. In addition, Aduddle allegedly was the managing member of Amarillo Scottie’s.

U.S. District Court Judge James England has appointed attorney David Mercer from the federal public defender’s office to represent Aduddle. In July, Mercer filed a motion asking England to continue an Aug. 13 trial date.

“The underlying facts in this case are complicated and somewhat document intensive,” Mercer stated in the motion.

England granted the motion and reset Aduddle’s trial date for Nov. 26, records show.

This story originally appeared in SBJ’s Sept. 26 free e-news Daily Update. Click here to register.[[In-content Ad]]