BATON ROUGE, LA (WAFB) -
A man has been convicted on charges involving movie tax
schemes in Louisiana. Last year, the US Attorney charged him with wire fraud,
and he was sentenced on Thursday.
Gregory Martin Walker, 47, was living in Baton Rouge at the
time. Investigators say Walker swindled nearly $4 million dollars by buying and
selling Louisiana motion picture investor tax credits, which he did not own.
Walker was sentenced by U.S. District Judge James T. Brady
to 70 months in prison. He was ordered to pay the investors restitution in the
amount of $1,833,619.75. Also, he was ordered to forfeit almost $1 million
dollars to the United States for the property, which was obtained from his
scheme to defraud investors and purchasers.
United States
Attorney Green stated, "We will continue to safeguard all types economic
programs that fall prey to fraudsters and ensure they are held accountable for
their actions."
"This
conviction should convey a clear message to the public," stated FBI Special
Agent-in-Charge Michael Anderson, "that schemes to defraud that interfere with
legitimate government incentives to stimulate economic growth in Louisiana will
not be tolerated."
In total, Walker sold bogus tax credits with a face value of
$3,823,441 to twenty-four investors. He collected $2,560,670.
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