Steven Harold Loga Pled Guilty in Baton Rouge Federal Court to a Bill of Information Charging Him With Bank Fraud and Money Laundering

The Federal Bureau of Investigation (FBI) on August 18, 2011 released the following:

“Guilty Plea in Baton Rouge, Louisiana to Bank Fraud and Money Laundering

BATON ROUGE, LA— United States Attorney Donald J. Cazayoux, Jr., announced that STEVEN HAROLD LOGA, age 42, of Denham Springs, Louisiana, pled guilty today before Senior United States District Court Judge Frank J. Polozola to a two-count bill of information which charged him with bank fraud and money laundering.

According to the stipulated factual basis, LOGA owned and operated Warehouse Food Group, a Baton Rouge wholesaler which sold seafood to institutional food service companies. Between June 2008 and October 2008, LOGA defrauded Fidelity Bank by obtaining credit advances secured by fraudulent collateral. Fidelity Bank lost approximately $1,229,745 as a result of the scheme. Once LOGA collected the proceeds of the fraud, he then conducted various, substantial, financial transactions with the illegal proceeds at another local bank.

As a result of his guilty plea to bank fraud, LOGA faces a maximum sentence of a term of imprisonment of not more than 30 years, a $1,000,000 fine, or both, in addition to restitution in the amount of$1,229,745; as a result of his guilty plea to money laundering, LOGA faces a maximum sentence of a 10-year term of imprisonment, a fine of $250,000, or both. A sentencing date has not yet been set.

Donald J. Cazayoux, Jr., United States Attorney, stated, “This is another case which demonstrates our commitment to going after white collar criminals who seek to undermine our financial institutional systems. This plea is the result of the collaborative efforts of the IRS and FBI with our office, and we look forward to continuing these joint efforts to catch and punish fraudsters.”

Jim Lee, Special Agent in Charge, IRS-Criminal Investigation, stated, “IRS stands ready to partner with all law enforcement agencies to pursue individuals who commit bank fraud which can negatively impact our community and economy.”

David Welker, Special Agent in Charge, FBI-New Orleans Field Division, stated, “White-collar crimes such as this continue to erode the stability of our economy. The FBI will continue to collaborate with our law enforcement partners to identify, aggressively investigate, and bring to justice, those individuals that would defraud our financial institutions.”

This matter was investigated by special agents of the Internal Revenue Service – Criminal Investigations and the Federal Bureau of Investigation. The matter is being prosecuted by Assistant United States Attorney René I. Salomon.”

To find additional federal criminal news, please read Federal Crimes Watch Daily.

Douglas McNabb and other members of the U.S. law firm practice and write extensively on matters involving Federal Criminal Defense, INTERPOL Red Notice Removal, International Extradition and OFAC SDN List Removal.

The author of this blog is Douglas McNabb. Please feel free to contact him directly at mcnabb@mcnabbassociates.com or at one of the offices listed above.

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