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Jerry Baptiste, 47, of Miami, Florida, Sentenced to 6.5 Years for PPP Loan Scheme
A hard-hitting crackdown on Paycheck Protection Program (PPP) loan fraud has yielded another conviction, with Jerry Baptiste, the last of 20 defendants charged in a wide-ranging scheme, receiving a 6.5-year prison sentence.
According to Acting U.S. Attorney Richard S. Moultrie, Jr., Baptiste and his co-conspirators used the COVID-19 pandemic to defraud the government and the American people, stealing $830,417 from the PPP.
The scheme involved submitting false PPP loan applications, including a fraudulent application for Transportation Management Services Inc., which falsely claimed to have maintained 66 employees and an average monthly payroll of $332,167.
The defendants used the PPP loan money for their own gain, rather than for the intended purpose of helping businesses and individuals affected by the pandemic.
Baptiste pleaded guilty to money laundering on October 29, 2024, and was sentenced by U.S. District Judge J. P. Boulee to 6.5 years in prison, followed by 3 years of supervised release, and ordered to pay $830,417 in restitution.
This sentencing wraps up an exhaustive investigation into a fraud scheme that stole emergency funds from businesses and individuals that desperately needed them during the COVID-19 pandemic.
The FBI, IRS Criminal Investigation, and other law enforcement agencies worked tirelessly to bring the perpetrators to justice, and their efforts have sent a clear message that stealing from the government will not be tolerated.
Key Facts
- State: Georgia
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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