Press Releases
METAIRIE MAN SENTENCED TO FEDERAL PRISON FOR DEFRAUDING SBA
November 12, 2008
FOR IMMEDIATE RELEASE
PAUL HUNTER, age 30, a resident of Metairie, was sentenced by U.S. District Judge Sarah S. Vance to four (4) months imprisonment, (four months as to each of the four counts, to run concurrently), 4 months of home detention, and $400.00 special assessment, announced U. S. Attorney Jim Letten. Additionally, Judge Vance ordered HUNTER to pay restitution in the amount of $69,100.00 plus interest.
PAUL HUNTER previously pled guilty to four counts of wire fraud in relation to his scheme to defrauding the Small Business Administration. According to the factual basis, in an effort to defraud the Small Business Administration, on May 11, 2006, HUNTER transmitted via facsimile, an invalid building permit to the SBA to induce the SBA to release to the defendant the remaining amount of $39,600.00 on his business loan. On July 24, 2006, the defendant transmitted via facsimile, a 2003 building permit falsely and fraudulently altered by the defendant to appear as if it were issued in 2005 to the SBA to induce the SBA to release to the defendant the remaining amount of $9,500.00 on his home loan.
HUNTER admitted that he used the SBA loan proceeds to purchase a 2006 Cadillac STS car, a 2007 boat with a new outboard motor, a boat trailer, and new home. On April 27, 2006, September 1, 2006 and January 19, 2007, the defendant received insurance proceeds for repairs to his home and business that he did not assign or give over to the SBA as required by the SBA loan contracts.
The case was investigated by the Small Business Administration. The prosecution was handled by Assistant U. S. Attorney Andre’ Jones.
