A Phenix City resident is facing serious consequences after being convicted of wire fraud and money laundering in connection to a COVID-19 relief loan scheme.
On Monday, 39-year-old Nathan Carlisle was sentenced to 92 months in federal prison for his role in a scam that targeted vital pandemic relief programs meant to assist small businesses across Alabama and the nation.
Through fraudulent applications, Carlisle sought over $3.4 million in loans intended for struggling businesses.
While he ultimately received $600,000, investigators uncovered misuse of funds, including purchasing a personal vehicle.
How the Scheme Unfolded
This financial assistance program was designed to help eligible small businesses.Photo byBermix StudioonUnsplash
Carlisle’s wire fraud and money laundering charges are related to loans received through the Coronavirus Aid Relief and Economic Security (CARES) Act and the Economic Injury Disaster Loan (EIDL) program. Acting United States Attorney Kevin Davidson made the announcement.