- Associated Press - Monday, April 21, 2014

BATON ROUGE, La. (AP) - Federal prosecutor say former Baton Rouge businessman Gregory M. Walker, who has admitted defrauding buyers of $1.4 million in Louisiana film tax credits that he did not own, allegedly enticed $325,000 from other investors in July.

At the time, Walker, 47, and his attorneys already were in plea negotiations with prosecutors in the larger case.

As a result of the new allegations, Walker surrendered to federal marshals last week in response to an order by U.S. District Judge James J. Brady.

The Advocate reports (http://bit.ly/QznQ4T ) court records show his sentencing hearing on the $1.4 million tax credit case is June 5.

The newspaper says Walker’s attorney, John C. Anderson, did not respond to requests for comment on the continuing case.

In October, Walker was charged by Acting U.S. Attorney Walt Green and Assistant U.S. Attorney Rene I. Salomon with one count of wire fraud in the $1.4 million case, and he pleaded guilty.

That wire fraud charge carries a possible prison term of 20 years. Brady granted Walker permission to remain free pending sentencing.

On March 20, however, Salomon asked the judge to revoke Walker’s release pending sentencing.

Salomon wrote to the judge that three investors, identified only by their initials, had complained that Walker enticed them to invest a combined $325,000 for Louisiana film tax credits he promised to deliver.

The prosecutor said none of the three investors had received film tax credits or their money from Walker.

Although Walker allegedly took $325,000 from the three additional investors prior to his Oct. 23 guilty plea, Salomon told the judge, “Walker has continued to mislead investors into believing that he would supply valuable, valid film tax credits to them for the funds . they had previously advanced to him.”

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Information from: The Advocate, http://theadvocate.com