OXFORD – Former Peopleoungers President James Clifton Green Jr. of Tupelo will be sentenced Nov. 4 for fraud.
Green, 57, pleaded guilty April 14 in U.S. District Court to three charges – bank fraud, mail fraud and money laundering.
Prosecutors said he lied to several banks by overvaluing his assets so he could take out loans. He also told them the loans would be used to keep Peoploungers afloat.
Chief Judge Michael P. Mills will sentence him. Green faces up to 80 years in prison and $2.5 million in fines.
NEMS Daily Journal