Lewiston Man Sentenced for Fraudulent PPP Loan, Ordered to Pay Over $24,000 in Restitution
BANGOR, Maine – In a shocking case of pandemic-era financial deception, Shahied Golden, 30, has been sentenced to 12 months and one day in prison for filing a fraudulent application for a Paycheck Protection Program (PPP) loan.
According to court records, in April 2021, Golden filed a false PPP loan application, receiving approximately $20,833 in PPP funds. The application listed a false gross income for 2020 and falsely stated the loan proceeds were needed to make payroll payments for his alleged business.
Golden’s scheme was exposed when he submitted a fraudulent document in support of his application, which falsely stated his gross income, among other things. He caused the funds to be deposited into his own personal bank account, quickly withdrew the funds, and did not use the PPP proceeds for approved expenses.
Homeland Security Investigations investigated the case, uncovering Golden’s deceitful plot. The Paycheck Protection Program, administered by the Small Business Administration (SBA), provided forgivable loans to small businesses for job retention and certain other expenses during the COVID-19 pandemic.
The sentence will be served consecutively to Golden’s 27-month state prison sentence for illegal possession of a firearm and a state probation violation. Golden was also ordered to pay $24,090.82 in restitution. He pleaded guilty on September 27, 2024.
The case highlights the importance of vigilance in preventing financial crimes, particularly during times of crisis. The PPP was designed to support small businesses, but Golden’s actions demonstrate the need for robust oversight and enforcement to protect taxpayer dollars.
Bangor, Maine, is a city in the state of Maine, where the case was heard in U.S. District Court. The exact date of the crime was April 2021, and Golden’s sentencing occurred on an unspecified date in 2024.
Related Federal Cases
- Mark X Haley II, PPP Loan Fraud, Maine 2024 · Maine
- Richard D. Gooding, Bank Heist, Maine, 2023 · New York
- Thomas E. Delahanty II, Election Fraud Crackdown, Maine, 2016 · District of Columbia
- Wendell White, Crack Distribution Conspiracy, Maine 2013 · Connecticut
- Malik Delima, Credit Card Fraud Conspiracy, Maine 2015 · Massachusetts
Key Facts
- State: Maine
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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