Denver Grifter Howe Hit with 27 CARES Act Fraud Counts

DENVER – Steve Randall Howe, a Denver man, is facing a mountain of charges – twenty counts of bank fraud and seven counts of money laundering – stemming from a brazen scheme to fleece the Small Business Administration’s Paycheck Protection Program (PPP). The indictment, unsealed Wednesday, paints a picture of calculated deception and blatant self-enrichment at the expense of a nation reeling from the COVID-19 pandemic.

According to federal prosecutors, between April 2020 and January 2022, Howe allegedly secured over $1.2 million in PPP loans for six businesses he controlled. But these weren’t legitimate applications. The indictment claims Howe forged documents and fabricated information to convince lenders his companies qualified for the aid when they didn’t. It wasn’t about saving jobs; it was about lining his pockets.

The money, intended to keep small businesses afloat during a national crisis, was allegedly funneled into decidedly ineligible expenses. We’re talking residential properties, retail splurges, lavish travel, and even transfers of cash to China. And the gall? Howe then allegedly applied for – and received – full forgiveness on each loan, never making a single payment. A complete and utter betrayal of the system.

The CARES Act, passed in March 2020, was a lifeline thrown to Americans struggling with the economic fallout of COVID-19. The PPP, a key component, aimed to help small businesses retain employees and cover essential costs. The program relied on the honesty of applicants, a trust Howe allegedly shattered. Businesses were supposed to certify the funds were used appropriately before receiving forgiveness – a promise Howe allegedly made knowing it was a lie.

Howe made his initial appearance in federal court on July 2, 2025, before United States Magistrate Judge N. Reid Neureiter. He is presumed innocent until proven guilty, but the evidence presented in the indictment suggests a deliberate and extensive pattern of fraud. This case serves as a stark reminder that those who exploit disaster relief programs will be held accountable.

The investigation is a joint effort by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation, with Assistant United States Attorneys Taylor Glogiewicz and Craig Fansler leading the prosecution. Anyone with information about COVID-19 related fraud is urged to contact the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or submit a complaint online at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form. Case Number: 25-cr-00197-NYW.