The owner of Theophin Consulting LLC, Rudy Theophin, has admitted to committing wire fraud by unlawfully obtaining Covid-19 relief funds via the Paycheck Protection Program (PPP).
Theophin, aged 41 from Miramar, Florida, was the sole proprietor of Theophin Consulting LLC. In June 2020, he applied online for a PPP loan amounting to $123,675 through the U.S. Small Business Administration. The loan application contained false information regarding the number of employees and the monthly payroll cost associated with Theophin Consulting. Upon receiving the loan, Theophin directed some of the funds to another individual, moved a portion to an investment account under his name, and utilized the rest to buy a condominium. Theophin was a mayoral candidate in Miramar in 2023.
The sentencing is scheduled for July 15 in Fort Lauderdale before U.S. District Court Judge Rodney Smith, where Theophin could be sentenced up to 20 years.
The case announcement was made by U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and Special Agent in Charge Emmanuel Gomez of the IRS Criminal Investigation (IRS-CI), Miami Field Office.
The IRS-CI led the investigation. Assistant U.S. Attorney Christopher Killoran is handling the prosecution, while Assistant U.S. Attorney Jorge Delgado is responsible for asset forfeiture.
Additional related court documents and case details can be accessed on the District Court for the Southern District of Florida's website or through PACER under case number 24-cr-60233.