Denver, CO – Edward Baker Harrington, 59, of Idaho Springs, has been convicted of a $1,000,000 Paycheck Protection Program (PPP) fraud scheme.
According to prosecutors, Harrington submitted fake PPP applications to seven banks and one lender on behalf of business entities he controlled. The applications contained false and fraudulent certifications, and Harrington obtained over $1,000,000 in PPP loans.
The funds were supposed to be used to pay eligible business expenses, but Harrington instead used them for personal gain, purchasing goods and property, including real estate and vehicles.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 to provide emergency financial assistance to Americans affected by the COVID-19 pandemic. The CARES Act created the PPP program, administered by the Small Business Administration, to provide loans to small businesses to retain workers, maintain payroll, and certain other expenses.
Harrington’s conviction carries a prison term of up to 20 years and a fine of not more than $250,000 for wire fraud, and up to 10 years and a fine of not more than $250,000 for money laundering.
The case is being investigated by the Internal Revenue Service – Criminal Investigation and prosecuted by Assistant United States Attorneys Nicole Cassidy and Martha Paluch.
The COVID-19 Fraud Enforcement Task Force was established by the Attorney General in May 2021 to combat and prevent pandemic-related fraud. Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.
The case number is 22-cr-00324.
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Key Facts
- State: Colorado
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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