Tampa, FL – In a stunning admission of guilt, Terrance Bradford, 46, has pleaded guilty to eight counts of wire fraud. The charges stem from an alleged scheme to steal over $500,000 in COVID-19 relief funds intended for small businesses.
United States Attorney Gregory W. Kehoe announced that Bradford faces a maximum penalty of 20 years in federal prison for each count, totaling up to 160 years. A sentencing date has yet to be scheduled.
Court records detail how Bradford falsified Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) applications to defraud the Small Business Administration. Despite certifications on his applications stating he was eligible for CARES Act funding, Bradford was actually excluded from receiving federal contracts at the time of application due to a bankruptcy filing by one of his businesses.
The fraudulent proceeds amounting to $533,648.32 are subject to forfeiture under the order. The investigation was led by the Federal Bureau of Investigation and the Small Business Administration – Office of Inspector General, with prosecution handled by Assistant United States Attorney Merrilyn Hoenemeyer.
Bradford’s sentence also includes an order for the forfeiture of the ill-gotten gains. Anyone with information on COVID-19 related fraud is urged to report it to the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or through the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.
This case serves as a stark reminder of the lengths some will go to exploit pandemic relief programs for personal gain. The justice system is poised to mete out severe punishment for those who abuse the trust placed in these critical economic lifelines.
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Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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