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Kansas City Woman Pleads Guilty to $900,000 Covid Fraud Scheme
KANSAS CITY, Mo. – Renetta Golden-Larimore, 55, pleaded guilty in federal court today to her role in two separate conspiracies that resulted in more than $900,000 in fraudulent Paycheck Protection Program (PPP) loans being issued under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The CARES Act established several new temporary programs and provided for the expansion of others to address the COVID-19 pandemic. Among these programs, the Paycheck Protection Program (PPP) authorized forgivable loans to small businesses to retain workers and maintain payroll, make mortgage interest payments, lease payments, and utility payments.
By pleading guilty today, Golden-Larimore admitted that from February 2021 to May 2022 she conspired with others to submit false and fraudulent applications for PPP loans. The scheme caused over $900,000 in fraudulent PPP loans to be issued to ineligible borrowers, some of which were forgiven even though the funds were not used for the purposes specified in the PPP.
Golden-Larimore admitted she prepared and filed fraudulent PPP loan applications on behalf of other persons. Generally, she charged fees between $2,000 and $7,000 for her assistance in filing false and fraudulent PPP loans, earning a total of at least $75,833 from the scheme. Golden-Larimore created counterfeit IRS forms for nonexistent businesses and with inflated income for existing businesses in order to qualify the borrower for a PPP loan.
Golden-Larimore prepared approximately 43 false PPP loan applications that were funded and numerous other false applications that were rejected. The total loss to the Small Business Administration was $908,278. Twenty other persons have been charged and convicted in the Golden-Larimore fraud scheme in these two cases and five additional cases.
Under the terms of today’s plea agreement, Golden-Larimore must forfeit to the government at least $75,833, which represents the proceeds she personally obtained from the scheme, and pay $908,278 in restitution to the Small Business Administration, representing the total fraud loss associated with the wire fraud scheme.
Under federal statutes, Golden-Larimore is subject to a sentence of up to 20 years in federal prison without parole. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.
Key Facts
- State: Missouri
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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