News - State
N.O. man pleads guilty to Katrina loan fraud
Posted: Jul 21, 2011 7:59 AM by Lauren Wilson & AP
NEW ORLEANS (AP) - A New Orleans man has pleaded guilty to fraudulently receiving a disaster loan worth more than $100,000 after Hurricane Katrina.
Federal prosecutors say 46-year-old Torrance Green submitted false documentation to the Small Business Administration in his application for a loan for his real estate business following the 2005 storm.
Green faces a maximum sentence of 10 years in prison and a $250,000 fine following his guilty plea Wednesday to one count of theft of government funds.
His sentencing is set for Nov. 16.
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