NEW ORLEANS MAN PLEADS GUILTY TO THEFT OF FEDERAL FUNDS
TORRANCE GREEN, age 46, a resident of New Orleans, Louisiana, pleaded guilty today in federal court before the Honorable Stanwood R. Duval, Jr. to one count of theft of government funds, announced U. S. Attorney Jim Letten.
According to court documents, from December 20, 2005, through March 7, 2007, GREEN received $103,100 in Katrina related disaster loan proceeds from the United States Small Business Administration (“SBA”). GREEN admitted that he submitted or caused to be submitted false and fraudulent documentation to the SBA in support of his disaster loan for his real estate business.
GREEN faces a maximum of term of ten (10) years imprisonment, a $250,000 fine, and three (3) years of supervised release following any term of imprisonment. Sentencing has been scheduled for November 16, 2011.
The case was investigated by the Office of Inspector General for the SBA, and is being prosecuted by Assistant U. S. Attorney Spiro Latsis.
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