James Bunker, Pandemic Relief Program Fraud, South Dakota 2021

A Sioux Falls man has been charged with defrauding pandemic relief programs.

James Bunker, 50, d/b/a Genuine Builders, Inc., d/b/a Tri-State Ag Services, LLC, d/b/a Falls Framing, LLC, and d/b/a No. 18, LLC, was indicted on April 6, 2021, by a federal grand jury for Bank Fraud, Attempted Bank Fraud, False Statement to a Financial Institution; Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity, and False Statement.

The maximum penalty upon conviction is up to 30 years in federal prison and/or a $1,000,000 fine, five years of supervised release, and up to $1,200 to the Federal Crime Victims Fund. Restitution may also be ordered.

The Indictment alleges that Bunker defrauded or attempted to defraud banks in connection with his efforts to acquire loans under the Paycheck Protection Program, or the Main Street Lending Program that relate to pandemic relief programs. The Indictment also alleges that Bunker submitted or caused to be submitted false financial documents to the banks and lied on loan forgiveness applications submitted to the U.S. Small Business Administration.

The charges are merely accusations and Bunker is presumed innocent until and unless proven guilty.

Bunker appeared before U.S. Magistrate Judge Veronica L. Duffy on April 8, 2021, and pled not guilty to the Indictment. He was released on bond pending trial which has been set for June 15, 2021.

The investigation is being conducted by the Federal Bureau of Investigation, the Internal Revenue Service, and the U.S. Attorney’s Office. The Special Inspector General for Pandemic Recovery is also assisting in this case. Assistant U.S. Attorney Ann M. Hoffman is prosecuting the case.

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