News and Press Releases

James Clifton Green, Jr. Sentenced to 51 Months for Bank and Mail Fraud and Money Laundering

November 4, 2010

OXFORD, Miss. – William C. Martin, United States Attorney for the Northern District of Mississippi, Thomas McDade, Special Agent in Charge, Federal Deposit Insurance Corporation, Office of Inspector General, Dallas Field Office, Martin Phanco, Inspector in Charge, United States Postal Inspection Service, Atlanta Division, and Special Agent in Charge James C. Lee, Internal Revenue Service Criminal Investigation, New Orleans Field Office, announced that:

James Clifton Green, Jr., 57, of Belden, former President and controlling stockholder of Peoploungers, Inc., was sentenced today before United States Chief District Judge Michael P. Mills, in Oxford, Mississippi, following his plea in April to a three-count Information, charging him with bank fraud, mail fraud and money laundering. Judge Mills ordered Green to pay restitution in the amount of $6,150,000, and sentenced him to 51 months in prison for each count, with the sentences to run concurrently . Green was also sentenced to serve a term of five years supervised release.

In April, Green admitted to misrepresenting his financial position to a number of banks in the North Mississippi area by overvaluing his assets and under-reporting his liabilities for the purposes of obtaining loans.

“Bank fraud and money laundering create harm to our financial institutions and our economy, but today's sentencing is a strong reminder how serious our courts consider this criminal activity,” said James C. Lee, Special Agent in Charge, IRS-Criminal Investigation, New Orleans Field office. “Those who line their pockets with profits from illegal schemes should know they will not go undetected and will be held accountable.”

“The Federal Deposit Insurance Corporation Office of Inspector General is pleased to have partnered with our law enforcement colleagues in bringing about today’s sentencing,” said Jon T. Rymer, Inspector General. “Those who seek to undermine the integrity of the financial services industry and whose actions cause losses to FDIC-insured institutions need to be held fully accountable. We commend the AUSA’s efforts in bringing Mr. Green to justice.”

This case was investigated by the United States Postal Inspection Service in the Memphis, Tennessee office, IRS Criminal Investigation, in the Oxford, Mississippi office, and the Federal Deposit Insurance Corporation - Office of Inspector General, in the Dallas, Texas office and is being prosecuted by Assistant United States Attorney Paul D. Roberts.


Return to Top

USAO Homepage
United States Attorneys 225th Anniversary
USAO Briefing Room
Disaster Fraud Hotline

If you believe you have been a victim of fraud from a person or an organization soliciting relief funds on behalf of storm victims, contact the National Center for Disaster Fraud toll free at:

(866) 720-5721

You can also fax information to:

(225) 334-4707

or e-mail it to:

Project Safe Neighborhoods

Our nation-wide commitment to reducing gun crime in America.

Law Enforcement Coordinating Committee

Training and seminars for Federal, State, and Local Law Enforcement Agencies.

Project Safe Childhood

Help us combat the proliferation of sexual exploitation crimes against children.

Victim Witness Assistance

Making sure that victims of federal crimes are treated with compassion, fairness and respect.