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Las Vegas, Nevada - Jaquari Davonte Woodward, 25, of North Las Vegas, has been sentenced to 19 months in prison, followed by three years of supervised release, for conducting a significant COVID-19 relief fraud. He submitted over 56 fraudulent Paycheck Protection Program (PPP) loan applications for himself and others, totaling more than $1.1 million over six months.

Key Points

• The scheme began on March 17, 2021, when Woodward first submitted a fraudulent loan application in his own name and received $20,833.
• Following his initial success, Woodward advertised his scheme on social media, offering assistance in similar fraudulent applications in exchange for a fee of $10,000 per application.
• In his fraudulent applications, Woodward provided false financial details, including fictitious IRS Form 1040 Schedules C, and often for non-existent or ineligible companies.
• The fraudulent activities stretched from March 2021 to October 2021.
• He pleaded guilty to wire fraud, and alongside his prison sentence, he is ordered to pay $1,264,252.02 in restitution to the affected PPP lenders and the Small Business Administration.