Al Clint LaRoche, a 43-year-old from West Palm Beach, has pleaded guilty to a brazen $1,078,652.50 fraud scheme that ripped off the federal government’s pandemic relief program. LaRoche admitted to two counts of bank fraud in a Fort Myers courtroom, each carrying a maximum sentence of 30 years behind bars. The case exposes how a single fraudster exploited the emergency CARES Act system designed to keep small businesses afloat during the darkest days of the pandemic.
Between April 2020 and April 2021, LaRoche submitted fraudulent First Draw and Second Draw Paycheck Protection Program (PPP) loan applications under his company, Bornwild, LLC. He routed the applications through a Naples-based financial services and technology firm, fabricating payroll figures, inflating employee counts, and falsely certifying that funds would be used for approved purposes like wages and rent. None of it was true.
To back up his lies, LaRoche forged quarterly IRS Form 941s—federal tax filings that claimed inflated payroll expenses to meet PPP eligibility thresholds. These fake documents were pivotal in tricking lenders into approving both rounds of funding. The result: over $1 million in taxpayer-backed loans funneled directly into bank accounts LaRoche controlled.
Instead of saving jobs, LaRoche went on a personal spending spree. Authorities say he blew the stolen funds on a Mercedes-Benz SUV, luxury jewelry, high-end hotel stays, and retail shopping sprees. More than $350,000 was pulled out in cold hard cash—vanished into the underground economy, leaving no trail for auditors to follow.
The PPP, created under the $2 trillion CARES Act in March 2020, was meant to be a lifeline for struggling small businesses. With loans designed to be forgivable if spent properly on payroll and overhead, the program became a target for fraudsters like LaRoche who saw weakness and opportunity. Congress pumped in over $650 billion, but oversight lagged—leading to hundreds of millions lost nationwide.
The Federal Bureau of Investigation led the probe into LaRoche’s actions. Assistant United States Attorney Trent Reichling is prosecuting the case. Sentencing is pending, but with two 30-year maximums on the table, LaRoche now faces the real cost of his greed: a potential lifetime behind bars.
RELATED: Al Clint LaRoche Pleads Guilty to $1M PPP Fraud
Related Federal Cases
- Miami Clinic Owner Pleads Guilty to $5.3M HIV Fraud Scheme · Alabama
- Miami Clinic Owners Face Guilty Pleas in $5.3M Medicare Fraud Scam · Alabama
- Miami Clinic Execs Guilty in $5.3M Medicare Fraud Scam · Florida
- Ex-Tax Auditor Plunkett Hit with Tax Fraud Charges · New York
- RCI Execs Hit With Bribery and Tax Fraud Charges · New York
Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
🔒 Get the grimiest stories delivered weekly. Subscribe free →
Browse More
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News