Sign in to comment!

Menu
Home

Corruption

Ray Nagin owes government more than $500,000 after corruption conviction

A federal judge says former New Orleans Mayor Ray Nagin will have to pay the government more than $501,000 as a result of his conviction on bribery and other charges.

U.S. District Judge Helen Berrigan issued the forfeiture order Tuesday. Nagin was convicted in February on 20 counts including bribery, fraud, money laundering and conspiracy during his two terms as mayor. He served from 2001 to 2010.

Prosecutors say Nagin received more than $501,000 in money, goods and services from businessmen in exchange for lucrative city work. Nagin's attorney says the amount should be less because Nagin shared liability with others.

Nagin is set to be sentenced June 11, but he is seeking a delay. The charges carry maximum sentences ranging from three to 20 years.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.96% dw 3.98%  
15 Y Fixed Graph 3.07% dw 3.09%  
30 Y Fixed Jumbo Graph 4.17% dw 4.18%  
5/1 ARM Graph 3.20% dw 3.23%  
5/1 Jumbo ARM Graph 3.48% up 3.47%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.32% up 4.29%  
$50K HELOC Graph 3.98% up 3.96%  
$30K Loan Graph 4.99% -- 4.99%  
$50K Loan Graph 4.34% -- 4.34%  
$75K Loan Graph 4.36% -- 4.36%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 2.93% dw 2.94%  
36 M Used Graph 3.47% dw 3.48%  
48 M New Graph 3.18% dw 3.22%  
48 M Used Graph 2.99% dw 3.05%  
60 M New Graph 3.19% dw 3.24%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.39% -- 0.39%  
1 yr Graph 0.70% -- 0.70%  
5 yr Graph 1.55% -- 1.55%