Grimy Times Exclusive: Renetta Golden-Larimore, 56, Sentenced for Multi-Million Dollar PPP Loan Scam
KANSAS CITY, Mo. – In a brazen scheme to bilk taxpayers out of $900,000, Renetta Golden-Larimore, 56, was sentenced to 51 months in prison for her leadership role in a Paycheck Protection Program (PPP) loan scam. Golden-Larimore’s scheme, which spanned from February 2021 to May 2022, caused over $900,000 in fraudulent PPP loans to be issued to ineligible borrowers.
According to court documents, Golden-Larimore, a Kansas City, Mo., resident, conspired with others to submit false and fraudulent applications for PPP loans. She prepared and filed fraudulent PPP loan applications on behalf of other persons, charging fees between $2,000 and $7,000 for her assistance in filing false and fraudulent PPP loans, earning a total of at least $75,833 from the scheme.
Golden-Larimore’s scheme was carried out by creating counterfeit IRS forms for nonexistent businesses and with inflated income for existing businesses in order to qualify the borrower for a PPP loan. She prepared approximately 43 false PPP loan applications that were funded and numerous other false applications that were rejected. The total loss to the Small Business Administration was $908,278.
Twenty-one other persons have been charged and convicted in the Golden-Larimore fraud scheme in these two cases and five additional cases. Golden-Larimore was ordered to forfeit to the government at least $75,833, which represents the proceeds she personally obtained from the scheme and pay $908,278 in restitution to the Small Business Administration, representing the total fraud loss associated with the wire fraud scheme.
This case is being prosecuted by Assistant U.S. Attorney Paul S. Becker. It was investigated by IRS-Criminal Investigation and the Kansas City, Mo., Police Department. The PPP loan scheme, authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, was designed to provide forgivable loans to small businesses to retain workers and maintain payroll, make mortgage interest payments, lease payments, and utility payments.
Golden-Larimore’s sentencing comes as a warning to others who would seek to take advantage of taxpayer-funded programs for personal gain. “The PPP loan scheme was a brazen attempt to line Golden-Larimore’s pockets with taxpayer dollars,” said a spokesperson for the U.S. Attorney’s Office. “We will continue to work tirelessly to bring perpetrators like Golden-Larimore to justice.”
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Key Facts
- State: Missouri
- Agency: DOJ USAO
- Category: White Collar Crime
- Source: Official Source ↗
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