Press Releases
METAIRIE MAN INDICTED FOR WIRE FRAUD
January 18, 2008
FOR IMMEDIATE RELEASE
PAUL HUNTER, age 31, a resident of Metairie, Louisiana, was charged in a four-count indictment by a Federal Grand Jury for wire fraud, announced U. S. Attorney Jim Letten.
According to court documents, from October 23, 2005 through January 19, 2007, PAUL HUNTER devised a scheme to fraudulently obtain approximately $69,100.00 in loan proceeds and approximately $61,000.00 in insurance proceeds from the Small Business Administration by means of false and fraudulent pretenses and representations.
Specifically, it is alleged that on May 11, 2006, HUNTER transmitted a facsimile of a altered building permit to the SBA to induce the SBA to release $39,600.00 on the defendant’s business loan. It is also alleged that on July 24, 2006, HUNTER transmitted another facsimile of altered building permit to SBA to induce SBA to release the remaining amount of $9,500.00 on his home loan. The indictment also charges that as a part of his scheme, HUNTER failed to assign insurance proceeds to the SBA as required according to the two SBA loan agreements. It is alleged that on April 27, 2006, the defendant received $24,615.31 and on September 1, 2006, the defendant received $20,336.37 in insurance proceeds, which HUNTER used to purchase a 2006 Cadillac STS car, a 2007 boat with a new outboard motor, a boat trailer, and new home.
Each count carries a maximum term of imprisonment of twenty (20) years imprisonment, a fine of $250,000.00, three (3) years of supervised release following any term of imprisonment, and $100.00 special assessment.
U. S. Attorney Letten reiterated that the indictment is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.
The case was investigated by the Small Business Administration and the prosecution is being handled by Assistant U. S. Attorney Andre’ Jones.
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