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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- BILL CRAWFORD: Dan Jones not the angel he is portrayed to be
- DAVID DALLAS — Just how long can Dan stand?
- Chancery judge delays JRA bond approval for Jackson's Westin hotel
- The Dan Jones-IHL saga: Is this the story that started it all?
- Cal-Maine income skyrockets as prices rise and costs shrink
- Business groups file briefs in support of Kemper coal plant rehearing
- KILL BILL: Common Core death knell heads to Gov. Bryant's desk
- Grain scandal takes its toll on Delta farmers
- Lawmakers move on bonds despite complaints from colleges and universities