Kansas City Woman Sentenced to 51 Months for PPP Loan Scam

KANSAS CITY, Mo. – Renetta Golden-Larimore, 56, was sentenced in federal court today to 51 months imprisonment for her leadership role in a PPP loan scam that caused over $900,000 in losses, according to the Department of Justice.

Golden-Larimore, a Kansas City woman, was found guilty of conspiracy to commit wire fraud and was sentenced by U.S. District Judge Brian C. Wimes. The scam involved submitting false and fraudulent applications for Paycheck Protection Program (PPP) loans, which were authorized under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

The CARES Act established programs to address the COVID-19 pandemic, including the Paycheck Protection Program (PPP), which provided forgivable loans to small businesses to retain workers and maintain payroll. Golden-Larimore and her co-conspirators submitted false and fraudulent applications for PPP loans, causing over $900,000 in losses to the Small Business Administration.

Golden-Larimore admitted to preparing and filing fraudulent PPP loan applications on behalf of other persons, charging fees between $2,000 and $7,000 for her assistance. She earned at least $75,833 from the scheme and created counterfeit IRS forms for nonexistent businesses and with inflated income for existing businesses.

The total loss to the Small Business Administration was $908,278, and Golden-Larimore was ordered to forfeit at least $75,833, which represents the proceeds she personally obtained from the scheme. She was also ordered to pay $908,278 in restitution to the Small Business Administration.

This case is being prosecuted by Assistant U.S. Attorney Paul S. Becker, and it was investigated by IRS-Criminal Investigation and the Kansas City, Mo., Police Department. Twenty-one other persons have been charged and convicted in the Golden-Larimore fraud scheme in these two cases and five additional cases.

The PPP loan scam was a major scheme that took advantage of the COVID-19 pandemic and the CARES Act programs. The scheme caused significant losses to the Small Business Administration and demonstrates the importance of investigating and prosecuting white-collar crimes.