William Chadwick, Money Laundering, Colorado 2023

A Colorado man has pleaded guilty to laundering COVID-19 relief funds and agreed to repay an estimated $228,284.09.

According to the plea agreement, William Chadwick, 62, of Akron, Colorado, laundered proceeds obtained from COVID-19 relief programs, including Unemployment Insurance (UI) benefits, Emergency Rental Assistance (ERA) Program proceeds, and Paycheck Protection Program (PPP) loan proceeds.

Between May 2020 and August 2022, Chadwick laundered an estimated $228,284.09 through numerous financial transactions involving wire fraud proceeds. He also received approximately $97,161.00 of UI and ERA benefits issued on behalf of other individuals that were deposited directly in bank accounts he set up and controlled.

In April 2021, Chadwick’s personal identifying information was used to submit a PPP application that contained materially false statements, and which was approved and funded in the amount of $20,833.00.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 to provide emergency financial assistance to Americans dealing with the economic impact of the COVID-19 pandemic.

The case is being investigated by the U.S. Department of Labor Office of Inspector General and the Department of Homeland Security Office of Inspector General. The case is being prosecuted by Assistant United States Attorney Nicole Cassidy.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

Chadwick’s plea agreement does not specify the exact sentence he will receive, but he has agreed to repay the estimated $228,284.09 in fraudulent proceeds.