United States v. Derek James Acree — U.S. District Court, S.D. Fla.

Case summary

Derek James Acree was charged by information on September 27, 2022 in the U.S. District Court for the Southern District of Florida, No. 9:22-cr-80157-AHS, and the court accepted his guilty plea to count 1, conspiracy to commit wire fraud under 18 U.S.C. § 1349, on October 11, 2022. The stipulated factual basis states that between March 2020 and around August 2020 Acree and a co-conspirator submitted loan applications under the Economic Injury Disaster Loan program and the Paycheck Protection Program, including an EIDL application filed March 31, 2020 for National Financial Holdings, Inc. seeking approximately $509,900. Judgment was imposed January 4, 2023: 41 months' imprisonment as to count 1, three years of supervised release and restitution. A forfeiture money judgment of $869,682.83 was entered January 4, 2023.

Case at a glance

What did the stipulated factual basis describe?

Loan applications submitted between March 2020 and around August 2020 under the EIDL program and the PPP. On March 31, 2020 an EIDL application was submitted by wire on behalf of National Financial Holdings, Inc., of 4521 PGA Blvd., Suite 226, Palm Beach Gardens, Florida, seeking approximately $509,900, with Acree and the co-conspirator executing the loan agreement as guarantors.

What was the forfeiture money judgment?

$869,682.83. The information's forfeiture allegations put the proceeds of the § 1349 offense at approximately that sum, and the plea agreement records Acree's agreement to a forfeiture money judgment in that amount, with substitute property under 21 U.S.C. § 853(p).

Have the monetary penalties been paid?

On October 12, 2023 the United States filed a satisfaction deeming satisfied the criminal monetary penalties judgment imposed on January 4, 2023, and authorizing the clerk to cancel that judgment of record. The judgment's scanned text prints the restitution figure as "$1,2,62,600.00".

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