Federal jury convicts LaRoque on all 12 counts - WNCN: News, Weather

Federal jury convicts LaRoque on all 12 counts

Posted: Updated:
GREENVILLE, N.C. -

A federal jury convicted former state Rep. Stephen LaRoque Friday on charges that he took money loaned to his company through a federal program and gave it to another company he owned for transactions that helped family members.
    
The jury returned its guilty verdict after deliberations that spanned three days. LaRoque was calm and emotionless as the verdict was read in a Greenville courtroom.
    
LaRoque was released on $50,000 bond. His sentencing is scheduled for Sept. 10.
    
The 49-year-old LaRoque was convicted on all 12 counts involving theft from a non-profit receiving federal funds, money laundering, false statements to cover up a scheme, and filing false tax returns.
    
Prosecutors said LaRoque took $300,000 from his East Carolina Development Co., which served as an intermediary for issuing loans through a U.S. Department of Agriculture loan program, and putting the money in another one of his businesses, LaRoque Management Group.
    
The management group then wrote checks in 2009 and 2010 to help pay for an ice skating rink in Greenville for his wife and a stepdaughter and to purchase a house for a second stepdaughter to rent, according to an indictment. The activities violated U.S. Agriculture Department policies and the bylaws of East Carolina Development, the indictment said.
    
LaRaque and his attorney maintained he used money that belonged to him and blamed accounting and bookkeeping errors for issues leading to the federal investigation and subsequent charges.
    
According to the U.S. Attorney's office, each count is punishable by up to 10 years in prison.

  • Trending StoriesTrending StoriesMore>>

  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • Man charged with killing UNC professor had just left Wake Jail

    Man charged with killing UNC professor had just left Wake Jail

    Friday, July 25 2014 5:28 PM EDT2014-07-25 21:28:10 GMT
    Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)Derick Davis II, 23 (Left) and Troy Arrington, Jr., 27, (Right)
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
    An Orange County dispatcher sounded shocked Wednesday afternoon when a 911 caller described finding University of North Carolina professor Feng Liu beaten and dying on a street near the UNC campus.
  • DOT fixes sign for new 485 flyover that spelled Pineville wrong

    DOT fixes sign for new 485 flyover that spelled Pineville wrong

    Friday, July 25 2014 1:40 PM EDT2014-07-25 17:40:30 GMT
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
    Thursday morning the Department of Transportation officially opened a ramp from Johnston Road to I-485. The flyover ramp opened around 5:15 a.m.
Powered by WorldNow

1205 Front St., Raleigh
N.C., 27609

Telephone: 919.836.1717
Fax: 919.836.1687
Email: newstips@wncn.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.