ST. LOUIS – Shahron Vaulx, 41, is headed to federal prison for 27 months after admitting to a brazen scheme to siphon over $629,000 from the Paycheck Protection Program. U.S. District Judge Stephen R. Clark didn’t just hand down the sentence on Wednesday; he also ordered Vaulx to fully repay every stolen dime.
Vaulx wasn’t content with a single fraudulent application. Between May 2020 and June 2021, he flooded the system with eight separate applications, all built on a foundation of lies. The applications, filed under the names of shell companies – Fortunnett Financial LLC, SD Incorporation LLC, SV Collections LLC and SD Marketing LLC – falsely inflated payroll figures and employee counts. He backed up these claims with forged tax documents, essentially constructing a paper trail of deceit to maximize his loan amounts.
Once the funds landed in his accounts, Vaulx didn’t use them to save jobs or keep a business afloat. Instead, he treated the stolen money as a personal slush fund, withdrawing cash, transferring funds to associates, splurging on retail purchases, and paying personal bills. The gall? He then applied for loan forgiveness, claiming he’d spent the money legitimately on business expenses – a final layer of insult to injury.
Prosecutors weren’t buying it. The sentencing memo pulled no punches, stating the “only explanation for (Vaulx’) crime is greed.” The document highlighted that Vaulx was already doing well financially at the time, boasting a $25,000 gross monthly income and substantial positive cash flow. This wasn’t about desperation; it was pure opportunism.
The U.S. Secret Service, leading the investigation, says this case underscores their commitment to hunting down those who exploited federal pandemic programs for personal gain. Special Agent in Charge Travis Gibson of the U.S. Secret Service – St. Louis Field Office, stated the agency will “aggressively target individuals” who engaged in such schemes. Vaulx pleaded guilty in January to two counts of wire fraud.
Assistant U.S. Attorneys Gwen Carroll and Stephen Casey secured the conviction and sentencing. Judge Clark’s order demands Vaulx repay $629,809 – a significant sum, but little consolation for taxpayers who footed the bill for his greed. This case is another stark reminder that pandemic relief funds weren’t free money, and those who tried to treat them as such will face the consequences.
Related Federal Cases
- Cristopher Cristea, Mining Fraud Scheme, St. Louis MO, 2023 · Texas
- Camille Childress, Medicaid Scam, St. Louis MO, 2021 · Texas
- Albert Davis, Wire Fraud, Kansas City, MO, 2023 · Kansas
- Russell Hopkins, Securities Fraud Conspiracy, Kansas City MO, 2023 · Kansas
- Jevon M. Jenkins, Aiding and Abetting Kidnapping, East St. Louis IL… · Pennsylvania
Key Facts
- Agency: U.S. Secret Service
- Category: Fraud & Financial Crimes
- Source: Official Press Release
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