DESTREHAN, La (BRPROUD)- U.S Department of Justice District Court Judge for Eastern District of Louisiana Jane Triche Milazzo annouced the verdict of Destrehan resident, Duane A. Dufrene 54, who pleaded guilty; on one count of bank fraud and one count of money laundering conspiracy in which he pocketed over $3 million.
Dufrene is schedule for sentencing on Feb. 23, 2020, he is also facing a maximum sentence of 30 years in prison.
After the fraudulent sales— Dufrene used the $3 million from the money laundering and bank fraud scams; to buy high-end luxury jewelry and cars which have been seized by the United States.
According to the plea documents, Dufrene and his co-conspirites Ryan Mullen, utilized fictitious entities, falsified tax returns, fraudulent financial statements, and fraudulent appraisals to orchestrate their scheme to defraud the lenders for the purchases of a residence in Jayess, MS State Bank and Trust.
Dufrene and Mullen also pursued The Briars Bed and Breakfast in Natchez, the MS Keesler Federal Credit Union, and two other Natchez hotels Red Oak Capital Group, LLC, on false financial information provided by DUFRENE to Mullen, who then gave it to State Bank and Trust; in reference to the release.
In the schemes, Mullen paid Dufrene $90,000, and in total Dufrene pocketed over $3 million for the scams of overvalued loans.
- After imprisonment, Dufrene faces up to five years of supervised release with up to $1,000,000 fine for bank fraud count
- Up to three years of supervision if released with a $250,000 fine on the money laundering count.
- Each count also carries a mandatory special assessment fee of $100.