See FULL Article below from Times Picayune. Bibleway owns multiple properties in NorthWest Carrollton and these property significantly contribute to blight. With the "owner" in jail already and now indicted.... What happens to the properties....??? Or do we have to just keep looking at the blight?
Laura Maggi, The Times-Picayune
Young, 40, is being held at a federal prison in Pollock after pleading guilty to bank fraud and identity theft. According to the federal Bureau of Prisons website, Young is scheduled to be released in two years.
The new indictment, released by U.S. Attorney Jim Letten's office, charged Young with mail fraud and theft of government money. He received $500,000 in SBA loans to rebuild the church after his initial application on Sept. 10, 2005. The following year, Young received a loan increase, bringing his total loan amount to $963,900.
According to the indictment, Young told the SBA in May 2006 that he had spent $655,240 rebuilding the church. But Young actually stole the money, the indictment stated.
If convicted of the new charges, Young will face maximum prison sentences of 10 years for theft and 20 years for mail fraud. Letten's office also filed a notice of forfeiture to require Young to repay the stolen money.
Laura Maggi can be reached at email@example.com or 504.826.3316.