Madison’s Eric Upchurch has been hit with a heavy conviction for Covid-relief fraud and money laundering. The 36-year-old was found guilty after a trial that saw him accused of swindling the U.S. Small Business Administration out of $400,000 in Paycheck Protection Program (PPP) loans.
From April 2020 to April 2021, Upchurch submitted 14 fraudulent PPP applications, falsely inflating payroll and revenues for his companies. He faces a maximum sentence of 20 years for each fraud count, along with an additional 10 years for money laundering charges related to the purchase of cryptocurrency with the stolen funds.
The CARES Act, enacted in March 2020, was intended to offer financial relief during the pandemic, but Upchurch exploited this with a series of false statements and falsified documents. The Internal Revenue Service, FBI, and SBA Office of Inspector General led the investigation into his deceitful scheme.
Judge William M. Conley has set sentencing for August 30, 2024. Assistant U.S. Attorneys Chad Elgersma and William M. Levins will handle the prosecution.
Upchurch’s case serves as a stark reminder of the repercussions faced by those who exploit crisis situations like the COVID-19 pandemic to enrich themselves at public expense.
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Key Facts
- State: Wisconsin
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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