A St. Louis County man has admitted to swindling the government out of $637,000 in pandemic and disability fraud, authorities announced today.
Preston Randall, 44, of St. Louis, Missouri, pleaded guilty to one count of making false statements to obtain a loan, in violation of Title 18, United States Code, Section 1014.
According to court documents, Randall applied to the U.S. Small Business Administration for a series of Economic Injury Disaster Loans (EIDL) for various businesses using various names.
The loans were intended to help small businesses recover from the economic impacts of the COVID-19 pandemic, but Randall misused the funds for personal gain.
The defendant’s scheme was uncovered by the U.S. Department of Justice’s Pandemic Response Accountability Committee, which works to prevent, detect, and respond to fraud in pandemic relief programs.
Randall is scheduled to be sentenced on April 25, 2024. He faces a maximum penalty of 30 years in prison, a fine of $1 million, and a term of supervised release of three years.
The case was investigated by the U.S. Department of Justice’s Pandemic Response Accountability Committee and was prosecuted by the U.S. Attorney’s Office for the Eastern District of Missouri.
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- Kevin K. Williams, Tax Return Mail Fraud, Alabama 2024 · Missouri
Key Facts
- State: Alabama
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source â†â€â€ÂÂÂ
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