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$700 million in Katrina money passed out to homeowners goes missing Reports are now in that $700 million taxpayer dollars have gone missing in Louisiana. The money, given to property owners in the wake of Hurricane Katrina, totaled one billion dollars. Seventy % of that cash has vanished. The brand new survey, released from the inspector general’s office, promises that over 24,000 homeowners each pocketed $30,000 of taxpayer bailout money. The amount of money was given out in hopes that home owners would elevate their homes to prevent upcoming catastrophes.