A New Hampshire resident has admitted to his role in a scheme to defraud COVID-19 relief programs. Tyree Jones, 32, from Plymouth, entered a guilty plea in U.S. District Court in Portland for conspiring to commit wire fraud.
Court documents reveal that between 2020 and 2021, Jones collaborated with others to submit fraudulent applications for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds. He personally submitted three false applications, claiming ownership of fictitious businesses in the agricultural and trucking sectors, which resulted in him receiving $51,666. Additionally, Jones assisted others in obtaining PPP and EIDL funds in return for "kickbacks" from any money they acquired. Fraudulent applications were filed on behalf of at least 12 other individuals by Jones and his co-conspirators using falsified IRS and bank documents.
Jones is facing a potential sentence of up to 20 years imprisonment and a maximum fine of $250,000, along with up to three years of supervised release. The final sentence will be determined by a federal district judge who will consider the U.S. Sentencing Guidelines among other statutory factors.
The investigation was conducted by IRS Criminal Investigation.
The Coronavirus Aid Relief and Economic Security (CARES) Act was established on March 29, 2020, as a response to the economic impact of the COVID-19 pandemic. It aimed to provide financial assistance through programs like EIDL and PPP administered by the Small Business Administration (SBA). These programs were designed to support business owners affected by the pandemic by covering fixed debts, payrolls, utilities, rent/mortgage payments, accounts payable, and other essential expenses.