La. Couple Deny $1M Katrina Recovery Fraud

Law360, New York (April 28, 2011, 7:05 PM EDT) -- A Louisiana couple pled not guilty in Mississippi federal court on Wednesday to charges that they bought a yacht with some of the $1 million in U.S. Small Business Administration loans they received to repair damage from Hurricane Katrina.

Victor and Eileen Planetta, owners of Planetta Custom Homes, entered not guilty pleas before a magistrate judge a week after being indicted on counts of conspiracy and fraud, according to court records.

The couple were arrested Tuesday in Slidell, La., and released Wednesday on bond, according to...
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