February 25, 2010 - RYANT PRICE, age 47, a resident of St. Rose, pled guilty today in federal court before U.S. District Judge Sarah Vance to a charge of theft of government funds, announced U.S. Attorney Jim Letten.
According to the factual basis, prior to and during the time of Hurricane Katrina, RYANT PRICE resided in his primary residence on River Road in Saint Rose, Louisiana. In 2006, PRICE applied for funds from the Louisiana Road Home Program, claiming that a second home he owned, located in New Orleans, Louisiana, was his primary residence at the time of the storm. PRICE admitted that as a result of his fraudulent application, he received approximately $105,000 in Louisiana Road Home Program funds to which he was not entitled.
PRICE faces a maximum term of imprisonment of ten (10) years, a fine of $250,000.00, and three (3) years of supervised release following any term of imprisonment. Sentencing has been set for May 12, 2010.
The case was investigated by the U.S. Department of Housing and Urban Development, Office of the Inspector General, and the Federal Bureau of Investigation. The case is being prosecuted by Assistant U.S. Attorney Spiro G. Latsis.
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