Tracy D. Wade PPP fraud case — U.S. District Court, S.D. Fla.

Case summary

Tracy D. Wade and his wife and co-defendant Carolyn D. Wade were prosecuted in the U.S. District Court for the Southern District of Florida, No. 0:23-cr-60173, over Paycheck Protection Program loan applications. The superseding indictment charged conspiracy to commit wire fraud, two counts of wire fraud, conspiracy to make false statements to the SBA and three counts of making false statements to the SBA. Both were convicted at the October 2024 trial. Filings record the PPP loan disbursed to Tracy Wade as $20,833. The court sentenced him on March 12, 2025 to 90 days' imprisonment on counts 1, 2, 3, 4, 6, 7 and 10, to run concurrently, and entered judgment on March 20, 2025. An April 28, 2025 filing states that appeals were pending in the Eleventh Circuit, Nos. 25-11132 and 25-11133. The last filing on the case page is dated April 9, 2026.

Case at a glance

What was Wade sentenced to?

A total term of 90 days' imprisonment, consisting of 90 days on each of counts 1, 2, 3, 4, 6, 7 and 10, to run concurrently with each other. Sentence was imposed on March 12, 2025 and judgment was entered on March 20, 2025.

How was Wade convicted?

At trial. Court filings state that Tracy Wade was convicted at trial of conspiracy, wire fraud and false statement counts, and that his co-defendant Carolyn Wade was also convicted at the October 2024 trial. An earlier trial of Carolyn Wade, begun May 13, 2024, ended in a mistrial declared on May 21, 2024.

How much was the PPP loan?

$20,833, disbursed to Tracy Wade. The same filings describe a separate application for $701,873 in the name of Wade Funeral Home that the SBA conditionally approved on May 6, 2021 and declined on June 6, 2021.

Summary written from the documents on this page; every sentence is sourced.