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.