Former Arkansas football coach John L. Smith accused of fraud by creditors

The hits just keep on coming for former Arkansas Razorbacks head football coach John L. Smith.According to two complaints filed this week in United States Bankruptcy Court, Smith is accused of defrauding several creditors by using his employment contract.Smith, who previously served as head coach at Louisville and Michigan State, filed for Chapter 7 bankruptcy last year, claiming more than $40 million in liabilities, most of which are the result of bad real estate investments made around the Louisville area. Smith hoped the move would have the debts he owed discharged so that he can move on with his life, but the creditors are trying to prevent that from happening.The creditors cite his unusual contract with the Razorbacks last year, in which 71% of his $850,000 salary was deferred until right after the 2012 season. In general, the bankruptcy estate controls assets acquired by a debtor before the date of the bankruptcy filing, which was Sept. 6 in Smith's case. Debtors generally...