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Date: 05-16-2023
Case Style:
Case Number: 2:23-cr-00057
Judge: Gloria M. Navarro
Court: United States District Court for the District of Nevada (Clark County)
Plaintiff's Attorney: United States Attorney’s Office in Las Vegas
Defendant's Attorney:
Description: Las Vegas, Nevada criminal defense lawyer represented Defendant charged with carrying out a scheme to submit more than $1.1 million dollars in fraudulent Paycheck Protection Program (PPP) loan applications on behalf of himself and others.
According to court documents and statements made in court, beginning no later than on or about March 14, 2021, and continuing until at least on or about October 9, 2021, Jaquari Davonte Woodward (24) devised and participated in a scheme to defraud the Small Business Administration and a California lending institution (a non-bank lender). On March 17, 2021, he submitted a loan application as the purported sole proprietor of a music business. He inflated the amount of money his purported music business made and submitted an IRS tax form containing false information. Thereafter, Woodward mass-marketed his scheme on social media by posting the amount of money he received, and offering to help others apply, requesting in exchange $10,000 from any approved loan applications. As part of the scheme, Woodward submitted at least 56 fraudulent applications for PPP loans on behalf of himself and others.
As a result of the Woodward’s fraudulent PPP loan applications, approximately $1,166,582 in fraudulent loan proceeds were deposited into bank accounts controlled by him and other individuals for whom he submitted fraudulent applications. He received about $41,166 in fraudulent PPP loans, as well as a significant share of the over $1 million in fraudulent loans he applied for and obtained on behalf of others, totaling at least $100,000.
Woodward pleaded guilty to wire fraud before United States District Judge Gloria M. Navarro. Sentencing is scheduled for August 15, 2023. Woodward faces the maximum statutory penalty of 30 years in prison, a term of supervised release, a fine, and restitution.
United States Attorney Jason M. Frierson for the District of Nevada, Special Agent in Charge Weston King for the Small Business Administration, Office of Inspector General’s (SBA OIG) Western Region, and Special Agent in Charge Spencer L. Evans for the FBI made the announcement.
The SBA OIG and FBI investigated the case. Assistant United States Attorney Eric Schmale is prosecuting the case.
18 USC 1343 - Wire Fraud
(1)
Outcome: Defendant pled guilty.
Plaintiff's Experts:
Defendant's Experts:
Comments: