By Patsy R. Brumfield/NEMS Daily Journal
TUPELO – Former PeopLoungers’ furniture CEO Jimmy Green of Tupelo soon will begin his 51-month prison sentence at the federal prison in Forrest City, Ark.
Earlier this week, Green’s attorney, Anthony Farese of Ashland, received his client’s official letter to report by 2 p.m. Jan. 10, U.S. District Court records show.
Green, 57, pleaded guilty in April to three counts of mail fraud, bank fraud and money laundering in a loan scheme that ultimately cost eight Northeast Mississippi and Alabama banks about $6 million.
Chief Judge Michael P. Mills sentenced him Nov. 4.
Mills also ordered him to repay $6.15 million in restitution, reflecting the total scheme with interest.
“I apologize to the court, my family, my friends and the state of Mississippi,” said the former Eagle Scout and church usher at sentencing. “I take sole responsibility for this.”
Although a U.S. Probation Service report recommended a sentence of 51 to 63 months, Mills took the low end of the scale, despite prosecutor Paul Roberts’ urging for more time.
In a court document filed before the probation report, Green said that global business pressures brought on millions in debt, sent him and PeopLoungers into bankruptcy and motivated his criminal acts.
The prison at Forrest City has two facilities, one low security and the other medium security. It’s about 45 miles west of Memphis.
Contact Patsy R. Brumfield at (662) 678-1596 or firstname.lastname@example.org.