_SAN DIEGO – The grimy halls of justice were abuzz with the news that Nikole L. Edwards, founder of Social Savvy Marketing, pleaded guilty today in court to swindling tens of thousands in Paycheck Protection Program funds. Edwards, a brazen conwoman, admitted to submitting fake tax records and payroll information to secure a loan under the PPP.
The PPP, part of the Coronavirus Aid, Relief, and Economic Security Act (CARES), was intended to aid small businesses during the pandemic. However, Edwards used it as a personal piggy bank, falsely claiming her business employed two individuals earning $75,000 and $50,000 annually. In reality, Social Savvy Marketing was a one-woman show.
Her deception was so convincing that she managed to secure a $19,583 PPP loan despite the fact that there were no employees to pay. Edwards even provided fake addresses and Social Security numbers for her imaginary workforce. Her lies were laid bare when a financial institution representative pointed out the discrepancy, to which she replied: ‘This is a lifeline for my employees and my business and we won’t survive without it.’
U.S. Attorney Robert Brewer minced no words, stating, ‘The PPP is designed to help struggling businesses meet legitimate payroll obligations, not to enrich sole proprietors engaging in outright fraud.’ Edwards will now have to repay every cent of the ill-gotten gains.
Suzanne Turner, Special Agent in Charge of the FBI San Diego Field Office, echoed the sentiment: ‘The FBI will not tolerate anyone who steals government funds intended to assist Americans struggling financially. We are committed to tackling COVID-related fraud head on with our law enforcement partners.’
Edwards is set to appear for sentencing before U.S. District Judge Gonzalo Curiel on November 18, 2020 at 8:30 a.m.
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Key Facts
- State: California
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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