Las Vegas, NV (Dept. of Justice) – A Las Vegas man has been sentenced to two years and six months in prison to be followed by three years of supervised release for devising a scheme to fraudulently obtain more than $42,000 in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) loan applications that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
According to court documents, in June 2020, 36-year-old Shavonte Hill devised a scheme to defraud the SBA, all while serving a term of federal supervised release for a 2017 felony conviction. As part of the scheme, Hill submitted on behalf of businesses that did not exist loan applications that contained false information, including false revenue amounts for non-existent companies and false certifications that
Hill would spend the loan money on business expenses, such as payroll costs, interest on mortgages, rent, and utilities. He also provided fraudulent documentation in support of his loan applications. The loss caused by Hill’s scheme was about $42,082.