Peoploungers chief to serve sentence in Ark.
by Associated Press
Published: December 1,2010
Tags: Furniture Industry
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.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Prescription for success — Transcript Pharmacy continues fast growth
- Study: Mississippi has highest sales tax rate in U.S.
- MSU researchers develop timber-management software
- New law on taxing methods hailed as big win for businesses
- Panther Creek megasite — Putting a value proposition out there
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- BBB issues warning involving asphalt paving scam
- Panther Creek's location in medical industry zone boosts bio-med prospects
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Baker Donelson's David A. Rueff Jr. co-authors guide