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Apr 5, 2012 11:04 AM by AP

Sentencing in fraud case delayed

GULFPORT, Miss. (AP) - A judge has agreed to delay sentencing to allow a Louisiana homebuilder more time to come up with $1 million to repay the Small Business Administration.

Victor Planetta, whose business is based in Slidell, La., had pleaded guilty in November to making false statements for money from SBA in rebuilding efforts after Hurricane Katrina.

The Sun Herald reports Planetta was to be sentenced Wednesday.

He had agreed to sell The Commodore apartments in Slidell, valued at more than $1 million, to repay SBA before his sentencing. A motion filed in court shows he has not sold the apartments yet.

He asked for a delay of three months. U.S. District Court Judge Louis Guirola Jr. gave him two months, and set sentencing for June 5.

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