Lloyd Pennebaker, the owner of The Pennebaker Group and Cornerstone Auto Sales in Anchorage, has been charged with one count of wire fraud related to his application for COVID-19 recovery funds.
According to court documents, Pennebaker applied for and obtained Economic Injury Disaster (EIDL) loans for Cornerstone Auto Sales from April 2020 to May 2021, receiving $122,500 in federal funding. However, court documents allege that Pennebaker made false statements regarding his criminal history on the applications for the EIDL loans, which were sent through interstate communications.
Pennebaker, 58, was convicted of three felonies in September 2002. He was transferred from Texas to Alaska this month and is currently facing one count of wire fraud in violation of 18 U.S.C. §1343.
The Small Business Administration Office of Inspector General is investigating the case, which is being prosecuted by Assistant U.S. Attorney Carly Vosacek. U.S. Attorney S. Lane Tucker of the District of Alaska and Special Agent in Charge Weston King of the Small Business Administration Office of Inspector General Western Regional Office made the announcement.
The indictment is merely an allegation, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law. Pennebaker’s case is just one example of the ongoing efforts to combat and prevent pandemic-related fraud in Alaska and across the country.
The COVID-19 Fraud Enforcement Task Force, established by the Attorney General in May 2021, aims to marshal the resources of the Justice Department in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. For more information on the department’s response to the pandemic, please visit www.justice.gov/coronavirus.
As the investigation continues, it is clear that the alleged actions of Lloyd Pennebaker are a serious threat to the integrity of the COVID-19 recovery funds and the trust of the American people. The Grimy Times will continue to follow this case and provide updates as more information becomes available.
Related Federal Cases
- Demetrick Ruffin, Wire Fraud Conspiracy, Alaska 2010 · Pennsylvania
- Jess George Adams, Wire Fraud, Money Laundering, Tax Evasion, Alaska, 2023 · California
- Royce Newcomb, $4.2M Wire Fraud, California 2024 · Pennsylvania
- James Wohlers Charged with Wire Fraud, Tax Evasion, Anchorage AK, 2024 · Washington
- Mervin Barclay Davis, Securities Fraud, California 2013 · Pennsylvania
Key Facts
- State: Alaska
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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