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Thursday, September 29, 2011

Toris Young indicted for stealing SBA money

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
A New Orleans minister already serving time in federal prison for bank fraud and forgery was indicted Thursday by a federal grand jury that found he stole almost $1 million in U.S. Small Business Administration loans that were supposed to be used to rebuild his church after Hurricane Katrina.
The Rev. Toris Young was photographed in April 2009.
The Rev. Toris Young, former pastor of Greater Bibleway Missionary Baptist Church in Hollygrove, made a name for himself in recent years by teaming with local rapper Corey "C-Murder" Miller on an anti-crime initiative when Miller was under a murder indictment in Jefferson Parish. Miller was convicted shortly after that initiative was announced. Young also led a failed recall effort against former U.S. Rep. Anh "Joseph" Cao.
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 or 504.826.3316.

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