ATLANTA – A $9 million federal loan fraud and money laundering operation has been shattered as ten individuals, including David Nathaniel Black, Jr., were charged. The group allegedly targeted the U.S. Small Business Administration’s Economic Injury Disaster Loan and Paycheck Protection Program.
“These cold-hearted criminals stole from small businesses and citizens during hard times,” said United States Attorney Theodore S. Hertzberg.
FBI Atlanta Special Agent in Charge Paul Brown added, “We’ll pursue anyone who exploited the pandemic to enrich themselves.”
The defendants, including Black, Jr., are accused of submitting unauthorized and false applications with fraudulent documents and stolen IDs. They obtained over $9 million in loans, some spent on luxury items like Bentayga, McLaren 720S, and Mercedes G-Class.
Black, Jr., aged 31 from Newnan, faces 17 counts of wire fraud, 17 counts of aggravated identity theft, and over 100 counts of money laundering. Others charged include Rashad Avery, Tara Batson, Chris Elvins Constant, Nicole Cooley, Reginald Douglas, Yvenord Guerilus, Carson Merice, Rise Robinson, and George Thompson.
Black and Constant are also charged with money laundering conspiracy for alleged proceeds from a fraudulent unemployment insurance scheme. The defendants are presumed innocent until proven guilty.
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Key Facts
- State: Georgia
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime|Organized Crime
- Source: Official Source ↗
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