DOJ: Florida man charged with PPP loan fraud sentenced
Written by Lucky Wilson | KGTO Writer on August 5, 2021
Andre Clark of Miramar was sentenced to 33 months in jail and has to pay greater than $2.9 million as a part of his sentence.
MIRAMAR, Fla. — A 48-year-old Miramar man by the identify of Andre Clark has been sentenced to 33 months in jail after he tried to get $7,263,564 from the Paycheck Safety Program.
This system additionally known as PPP, has loans assured by the Small Enterprise Administration which falls beneath the CARES Act.
In keeping with a United States Division of Justice information launch, court docket paperwork revealed that Clark admitted to acquiring a PPP mortgage for $488,565 for his firm, High Selection LLC.
He additionally admitted he requested $6,774,999 in fraudulent PPP loans, court docket information say.
Clark was capable of obtain this substantial amount of cash primarily based on falsified info and paperwork {that a} co-conspirator, James Stote, submitted on his behalf.
The Miramar resident additionally “recruited” his buddy and associates to Stote to ensure that them to obtain fraudulent funds.
“Clark admitted to looking for $6,774,999 in fraudulent PPP loans by means of different conspirators that he referred to the scheme,” the press launch mentioned.
Clark was additionally ordered to pay $2,975,086 in restitution along with his jail sentence.
Two different co-conspirators have been additionally sentenced earlier this month for his or her roles within the scheme in response to the Division of Justice.
On July 29, Tonye Johnson, a 29-year-old man of Philadelphia, Penn. was sentenced to 18 months in jail after he wrongfully obtained a PPP mortgage of $389,627 for his firm, Synergy Towing & Transport LLC.
Tiara Walker, a 38-year-old girl from Miami Gardens, Florida, is dealing with 12 months and a day in jail. She admitted to acquiring a fraudulent PPP mortgage of $258,575 for her firm, Utilization Evaluate Execs LLC, in response to court docket paperwork.
Johnson and Walker lied concerning the variety of workers and month-to-month payroll for his or her corporations. They too labored with Stote and different co-conspirators to acquire their fraudulent loans.
As for James Stote, he was charged by criticism — which is simply an allegation, on June 24, 2020, with wire fraud, financial institution fraud, and conspiracy to commit wire fraud. His case stays pending.
Because the begin of PPP loans, Fraud Part attorneys have had their palms full with prosecuting greater than 100 defendants in additional than 70 legal circumstances. The part has seized greater than $65 million in money proceeds on account of PPP fraud, along with actual property properties and luxurious objects bought with the proceeds.
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