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TORRANCE GREEN SENTENCED FOR THEFT OF GOVERNMENT FUNDS

FOR IMMEDIATE RELEASE
July 11, 2012

TORRANCE GREEN, age 46, a resident of New Orleans, Louisiana, was sentenced today in Federal Court before U. S. District Judge Stanwood R. Duval, Jr. to three (3) years probation after pleading guilty to theft of government funds, announced U.S. Attorney Jim Letten. GREEN was also ordered to pay a fine of $3,000.00 and a special assessment of $100.

According to court documents, GREEN applied for a disaster loan from the United States Small Business Administration (“SBA”), to repair three rental properties that were damaged by Hurricane Katrina. After receiving the first loan installment from the SBA, GREEN submitted several false invoices to the loan officer handling his loan in order to obtain subsequent loan disbursements. The SBA, relying on the false invoices, made several loan disbursements to GREEN totaling $103,100.00 that he was not entitled to. Eventually the SBA recovered the loan proceeds through the foreclosure process. As such, there was no loss to the government.

The case was investigated by the Office of Inspector General for the SBA, and was prosecuted by Assistant United States Attorney Spiro Latsis.


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