A Detroit CPA has been sentenced to 24 months in prison for his role in a massive PPP loan fraud scheme that targeted hundreds of small businesses in Pittsburgh and Detroit.
Mattew Lloyd Parker, 37, was sentenced by United States District Judge W. Scott Hardy, who also ordered him to pay $14.5 million in restitution to the U.S. Small Business Administration.
Parker, a licensed CPA, conspired with others to defraud lenders of more than $14.5 million through false Paycheck Protection Program (PPP) loan applications for COVID-19 pandemic relief between March 2020 and August 2021.
The scheme, which was the largest known PPP fraud in the Western District of Pennsylvania, involved Parker recruiting hundreds of small businesses and falsifying PPP loan applications in their names. The Small Business Administration approved more than 200 of those applications, resulting in loans totaling approximately $14.5 million to the various businesses.
The United States argued that Parker’s sophistication as a CPA aided him in falsifying the hundreds of PPP loan documents, which then generated substantial PPP loans to others along with approximately $1.5 million dollars in loan processing fees to Parker.
Assistant United States Attorney Gregory C. Melucci prosecuted the case on behalf of the government. Acting United States Attorney Troy Rivetti commended the Federal Bureau of Investigation and United States Postal Inspection Service for the investigation leading to the successful prosecution of Parker.
Related Federal Cases
- Laquanta Grant, Tax Fraud and Identity Theft, Alabama 2010 · Washington
- Sark Wire Corporation, PPP Fraud, Albany NY, 2023 · New York
- Christopher Furman, Wire Fraud and Money Laundering, Pennsylvania 2009 · California
- Emily Wilson, Investment Adviser Fraud, Pennsylvania, 2023 · Georgia
- Irina Segal, Medicare Fraud, Philadelphia PA, 2023 · California
Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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