DENHAM SPRINGS MAN SENTENCED FOR BANK FRAUD & MONEY LAUNDERING
BATON ROUGE, LA – United States Attorney Donald J. Cazayoux, Jr., announced today that Senior United States District Court Judge Frank J. Polozola sentenced STEVEN HAROLD LOGA, age 42, of Denham Springs, Louisiana, today to a term of imprisonment of 46 months, restitution of $1,208,078.63, and a term of 2 years supervised release.
LOGA was sentenced following his guilty plea to a two count Bill of Information which charged him with bank fraud and money laundering.
According to the stipulated factual basis supporting the guilty pleas and convictions, LOGA owned and operated Warehouse Food Group, a Baton Rouge wholesaler which sold seafood to institutional food service companies. Between June 2008 and October 2008, LOGA defrauded Fidelity Bank by obtaining credit advances secured by fraudulent collateral. Fidelity Bank lost approximately $1,229,745 as a result of the scheme. Once LOGA collected the proceeds of the fraud, he then conducted various, substantial, financial transactions with the illegal proceeds at another local bank; such financial transactions with the proceeds of bank fraud constituted money laundering.
Donald J. Cazayoux, Jr., United States Attorney, stated that “This is another case which demonstrates our commitment to going after white collar criminals who seek to undermine our financial institutional systems. This plea is the result of the collaborative efforts of the IRS and FBI with our office, and we look forward to continuing these joint efforts to catch and punish fraudsters.”
Jim Lee, Special Agent-in-Charge, IRS-Criminal Investigation, stated that “IRS stands ready to partner with all law enforcement agencies to pursue individuals who commit bank fraud and money laundering which negatively impact our community and economy.”
David Welker, Special Agent-in-Charge, FBI-New Orleans Field Division, stated that “White collar crimes such as this continue to erode the stability of our economy. The FBI will continue to collaborate with our law enforcement partners to identify, aggressively investigate, and bring to justice, those individuals that would defraud our financial institutions.”
This matter was investigated by Special Agents of the Internal Revenue Service-Criminal Investigations and the Federal Bureau of Investigation. The matter is being prosecuted by Assistant United States Attorney René I. Salomon.
If you have knowledge of fraud, waste, abuse, or allegations of mismanagement involving disaster relief operations, contact the National Center for Disaster Fraud toll free at: (866) 720-5721 or e-mail at: email@example.com