Richard Hall, of Clarksville, Tenn., was sentenced in 2006 to eight years in prison for his role in the failure of the plant. The beef plant, backed by the Mississippi Legislature and two state agencies, ran into trouble soon after Hall was given millions for the project.
Hall pleaded guilty to keeping $751,000 in public and corporate funds for himself during the debacle.
In 2008, federal prosecutors asked U.S. District Judge Neil Biggers to reduce Hall’s sentence. Prosecutors said Hall had testified and assisted the government in several criminal and civil cases, which have resulted in pleas of guilty or convictions and helped recoup money owed to the state of Mississippi related to be beef plant.
Biggers filed an order Tuesday reducing Hall’s sentence to 64 months.
Hall was indicted in 2006 and pleaded guilty to two counts of mail fraud and money laundering. Hall reported to prison in Oct. 2007 and, according to the U.S. Bureau of Prisons, is serving his sentence at the McCreary, Ky., facility.
The beef plant opened in Oakland in Aug. 2004 but lasted less than three months. In Jan. 2005, Hall defaulted on a $21-million loan to Community Bank and the project went into foreclosure.
In June 2005, the state paid the bank on its guaranteed $34 million.
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