Samuel Yates Charged with $5 Million COVID-Relief Fraud
Individual Copied List of Names off the Internet and Claimed Them as Employees
(STL.News) A Texas man has been charged in the Eastern District of Texas with allegedly filing bank loan applications fraudulently seeking more than $5 million dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
David P. Burns, Acting Assistant Attorney General for the Justice Department’s Criminal Division; Stephen J. Cox, U.S. Attorney of the Eastern District of Texas; Dale Forrester, Special Agent in Charge of the Treasury Inspector General for Tax Administration’s Cybercrime Investigations Division; Donald Abram, Special Agent in Charge of the SBA Office of Inspector General’s (OIG) Central Region; and Ryan L. Spradlin, Special Agent in Charge of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations (HSI) Dallas made the announcement.
Samuel Yates, 32, of Maud, was charged in an indictment with two counts of wire fraud. The indictment alleges that Yates sought millions of dollars in forgivable loans guaranteed by the SBA from two different banks by claiming to have over 400 employees earning wages when, in fact, no employees worked for his purported business.