Kennedy’s brother-in-law charged with fraud in La.
By PENNY BROWN ROBERTS
proberts@theadvocate.com
Advocate staff writer
Federal authorities in Louisiana have charged the brother-in-law of U.S. Sen. Edward Kennedy of committing millions in bank fraud.
A bill of information filed Wednesday in New Orleans federal court claims Raymond Reggie, 43, of New Orleans submitted fake documents to get a loan from Hibernia National Bank in December 2000.
In the bill of information, federal authorities said Reggie “submitted fictitious documents purporting to be a contract” between his company, Media Direct, and the U.S. Census Bureau.
A separate bill of information also filed Wednesday in Baton Rouge federal court charges him with a check-kiting scheme in which he made cross deposits in Union Planters Bank and Whitney National Bank in 1999, “making it falsely appear there were substantial deposits in both accounts.”
According to the bill, Reggie applied for a $4.2 million loan from Union Planters to repay the bank “for a loss created by the check-kiting scheme.” As collateral, Reggie pledged Media Direct accounts receivables of $2.1 million, which he “knew were false and fraudulent,” the bill says.
Reggie is the son of former Crowley City Judge Edmund Reggie, a longtime friend of former Gov. Edwin Edwards. He also is the brother of Victoria Kennedy, who is married to the Massachusetts senator.
Reggie declined to comment to the Associated Press, saying only: “there’s a lot more to it.”
A prominent New Orleans Democrat, Reggie has greeted former President Clinton on his visits to town.
His father was convicted in 1992 of misapplying funds of now-closed Acadia Savings and Loan of Crowley, and in 1993 he pleaded no contest to misapplying $425,000 in the form of a loan by Acadia Savings.
Edmund Reggie served 120 consecutive days of home detention and paid a $30,000 fine.
If convicted of both charges, Raymond Reggie faces up to 35 years in prison and fines of up to $1.2 million. |
