A St. Louis County man has admitted to swindling the U.S. government out of $637,000 in pandemic disability fraud.
Preston Randall, 44, of St. Louis, Missouri, pleaded guilty to fraudulently applying for Economic Injury Disaster Loans (EIDL) from the U.S. Small Business Administration.
According to court documents, Randall used various names to apply for the loans, claiming his businesses suffered losses due to the COVID-19 pandemic.
The scheme, which occurred between 2020 and 2021, resulted in Randall receiving over $637,000 in loan proceeds.
As part of his guilty plea, Randall agreed to pay restitution in the amount of $637,000.
Randall is scheduled to be sentenced on April 17, 2024, at the U.S. District Courthouse in St. Louis, Missouri.
The investigation was conducted by the U.S. Department of Justice’s COVID-19 Fraud Enforcement Task Force, in partnership with the U.S. Small Business Administration Office of Inspector General, the Federal Bureau of Investigation, and the U.S. Postal Inspection Service.
Preston Randall’s scheme highlights the need for continued vigilance in detecting and preventing pandemic-related fraud.
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Key Facts
- State: Alabama
- Agency: DOJ USAO
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: Official Source â†â€â€ÂÂÂ
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