Saint Augustine Man Charged with Bank and Wire Fraud Related to Theft of COVID-19 Relief Funds

Summary

A Department of Justice announcement datelined Peoria, published October 29, 2021, that a federal grand jury indicted Michael L. Patch of Saint Augustine, Illinois, on September 21, 2021 for allegedly committing one count of bank fraud and two counts of wire fraud. The release states that the indictment alleges Patch was the owner and operator of a now-defunct restaurant named Vernon Street Grill, applied for Paycheck Protection Program (PPP) and COVID-19 Economic Injury Disaster Loan (EIDL) funding using false and inflated gross receipts and payroll numbers, and was released on bond with a next court appearance on December 8, 2021. It lists maximum penalties of up to 30 years imprisonment and a $250,000 fine for the bank fraud charge, and up to 20 years and a $250,000 fine for each wire fraud count.

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Full text

PEORIA, Ill. – A federal grand jury indicted a Saint Augustine, Illinois, man, Michael L. Patch, 64, of the 100 block of West 3
rd
Street, on September 21, 2021, for allegedly committing one count of bank fraud and two counts of wire fraud from as early as April 2020 through this year. The indictment was unsealed during Patch’s initial appearance in federal court in Peoria, Illinois, today.
The indictment alleges that Patch was the owner and operator of a now-defunct restaurant named Vernon Street Grill, located in Farmington, Illinois. Patch maintained a bank account for the business at the Bank of Farmington. Starting in or around April 2020, Patch allegedly applied for certain types of funding and programs related to the COVID-19 pandemic, including the Paycheck Protection Program (“PPP”) and the COVID-19 Economic Injury Disaster Loan (“EIDL”). The indictment asserts that through use of false and inflated gross receipts and payroll numbers, Patch was able to qualify for funding from the PPP and EIDL programs. The indictment further alleges that Patch knowingly provided loan documents to the Bank of Farmington containing materially false information for the purpose of receiving a loan through the PPP program, along with submitting a fraudulent loan application to the Small Business Administration for the purpose of obtaining funds from the EIDL program.
Patch was released on bond, and his next court appearance will be December 8, 2021.
If convicted, the maximum statutory penalties for the alleged crimes charged are up to 30 years imprisonment, a $250,000 fine, and up to five years of supervised release for the bank fraud charge, and up to 20 years imprisonment, a $250,000 fine and up to three years of supervised release for each wire fraud count.
Agencies participating in the investigation include the Illinois Department of Revenue Criminal Investigations and the Federal Deposit Insurance Corporation Office of Inspector General. Assistant U.S. Attorney Douglas F. McMeyer is representing the government in the prosecution.
Members of the public are reminded that an indictment is merely an accusation; the defendant is presumed innocent unless proven guilty.

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