Home » NEWS » Peoploungers chief to serve sentence in Ark.

Peoploungers chief to serve sentence in Ark.

TUPELO — Peoploungers’ disgraced former chief Jimmy Green will serve his 51-month prison sentence for fraud and money laundering at an Arkansas federal prison.

WTVA-TV in Tupelo reports Green was ordered on Tuesday to report to the prison in Forrest City, Ark., on Jan. 11.

Green pleaded guilty to bank fraud, mail fraud and money laundering. He also was ordered to pay $6.1 million in restitution.

Prosecutors say Green lied about how much he was worth to get loans from numerous banks and lied that the money was going into Peoploungers. They say Green defrauded eight banks in Mississippi and Alabama.

The charges were not related to business dealings involving the Nettleton-based Peoploungers, but the company filed for bankruptcy protection in 2007.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Megan Wright

Leave a Reply

Your email address will not be published. Required fields are marked *

*