Peoploungers chief disputes amount of scheme

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Published: October 11,2010

Tags: fraud, Furniture Industry, manufacturing, Peopleoungers

TUPELO, Miss. (AP) – Peoploungers’ disgraced former chief claims his criminal acts were brought on by desperation after global business pressures sunk him and the furniture company into bankruptcy.

Jimmy Green pleaded guilty to bank fraud, mail fraud and money laundering in April over his personal financial dealings. Nettleton-based Peoploungers filed for Chapter 11 bankruptcy protection in 2007.

Green admitted a scheme that cost Mississippi and Alabama banks more than $5.2 million.

The government has upped that total to $6.2 million, according to the Northeast Mississippi Daily Journal.

Green’s attorneys filed objections Thursday to the higher figure, which was in a pre-sentence report that serves as a guide for the judge at Green’s Nov. 4 sentencing.

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