A refrigeration salesman faces 30 years in prison and a $750,000 fine after being convicted Wednesday of money laundering and interstate transportation of money by fraud in the failed Mississippi Beef Processors venture in Oakland.
A federal jury deliberated about two hours before finding James Draper, 59, guilty of pocketing funds for equipment meant for the plant, which went bust in 2004 – three months after opening – leaving hundreds of people jobless.
The fiasco wound up costing Mississippi taxpayers about $55 million.
“Justice has been served,” Assistant U.S. Attorney Jimmy Maxwell said after the verdict.
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