A 52-year-old New Orleans man has been sentenced to three years probation for his role in a Small Business Administration (SBA) loan scam.
Dr. David G. Millaud, a resident of New Orleans, Louisiana, pleaded guilty to theft of government funds in connection with a disaster loan that he received from the SBA, announced U.S. Attorney Dana J. Boente.
According to court documents, Millaud submitted false invoices to the SBA in order to support his request for a loan disbursement. As a result of the false invoices, Millaud received a loan disbursement totaling $56,449.91 in government funds to which he was not entitled.
The case was investigated by the U. S. Department of Housing and Urban Development, Office of the Inspector General, Small Business Administration, Office of Inspector General, and the Federal Bureau of Investigation.
The case was prosecuted by Assistant U.S. Attorney Spiro G. Latsis.
U.S. District Court Judge Eldon E. Fallon handed down the sentence, which includes three years of probation and $56,449.91 in restitution to the SBA.
The SBA loan scam is a serious offense that affects not only the individual but also the community as a whole. We hope that this sentence sends a strong message that such crimes will not be tolerated.
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Key Facts
- State: Louisiana
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release ↗
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