South Carolina (USA) resident Jeffrey Gossett has pleaded guilty to wire fraud and ML involving the theft of around $2 million from COVID-19 relief programs. Gossett specifically targeted the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL). Both of these are relief mechanisms under the US government’s Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Between March and April 2020, Gossett fraudulently obtained money and property by submitting false PPP loan and EIDL applications. Through this fraud scheme, Gossett collected COVID-19 assistance of $1,870,549.00 in PPP and EIDL loans.
Gossett could be sentenced to up to 20 years in jail followed by 3 years of supervised release. He will also have to pay a fine of $250,000.
Source: US Department of Justice