Colorado Man Pleads Guilty to Laundering COVID-19 Relief Funds (District of Colorado, June 5, 2025)

Summary

Press release of the U.S. Attorney's Office, District of Colorado, dated June 5, 2025. William Chadwick of Akron, Colorado pleaded guilty to one count of money laundering and agreed to repay fraudulent proceeds from COVID-19 relief programs. According to the plea agreement, from at least May 2020 through at least August 2022 he laundered proceeds from unemployment insurance benefits, Emergency Rental Assistance proceeds and Paycheck Protection Program loan proceeds, with restitution on an estimated $228,284.09. Addresses tied to him were listed on over 100 unemployment benefit applications for other individuals, and he received approximately $97,161.00 in benefits deposited into accounts he controlled.

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Full text

PRESS RELEASE


Colorado Man Pleads Guilty to Laundering
COVID-19 Relief Funds
Thursday, June 5, 2025

For Immediate Release
U.S. Attorney's Office, District of Colorado
USACO.PublicAffairs@usdoj.gov

DENVER – The United States Attorney’s Office for the District of Colorado announces
that William Chadwick, 62, of Akron, Colorado, pleaded guilty yesterday to one count of
Money Laundering and agreed to repay the fraudulent proceeds he laundered from
COVID-19 relief programs.

According to the plea agreement, from at least May 2020 through at least August 2022,
Chadwick 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. Chadwick engaged in
numerous financial transactions involving wire fraud proceeds and agreed to pay
restitution on the estimated $228,284.09 that he laundered.

The plea agreement further states that addresses tied to Chadwick were listed on over
100 UI benefits applications submitted on behalf of other individuals. Between May
2020 and August 2022, Chadwick 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 and was designed to provide emergency financial assistance to Americans dealing
with the economic impact of the COVID-19 pandemic. The CARES Act created the PPP,
a program administered by the Small Business Administration (SBA) that provided loans
to small businesses to retain workers, maintain payroll, and certain other expenses
consistent with PPP rules. Additionally, in response to the COVID-19 pandemic, several
federal programs expanded eligibility for unemployment benefits.
In early 2021, Congress established the ERA program to provide financial assistance to
eligible low-income households to cover the costs of rent, rental arrears, utilities, and
other housing-related expenses during the COVID-19 pandemic.

This 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 Department of Justice’s 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

Case Number: 25-cr-00127-WJM

Updated June 5, 2025

Topic
CORONAVIRUS
Component
USAO - Colorado


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