Caledonia man sentenced for COVID loan fraud
Summary
A press release of the U.S. Attorney's Office for the Northern District of Mississippi dated Monday, July 29, 2024, announcing that Herman Nash, 63, of Caledonia, was sentenced by U.S. Senior District Judge Glen H. Davidson to 18 months in prison, followed by 5 years of supervised release, and ordered to pay $738,000 in restitution. According to the release, which cites court documents, he applied for three separate Economic Injury Disaster Loans and received a total of $800,000 for a business that did not exist. It states that his applications claimed $455,000 in gross revenue and $90,000 in cost of goods sold, and that the IRS seized two vehicles from him worth over $60,000. It quotes U.S. Attorney Clay Joyner.
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Press Release Caledonia man sentenced for COVID loan fraud Monday, July 29, 2024 For Immediate Release U.S. Attorney's Office, Northern District of Mississippi OXFORD – A Caledonia man was sentenced today to 18 months in prison for receiving $800,000 in fraudulent Economic Injury Disaster Loans related to the COVID-19 pandemic. According to court documents, Herman Nash, 63, applied for three separate loans and received a total of $800,000. Nash claimed the loans for a business that did not exist. Nash’s loan applications claimed that his business generated $455,000 in gross revenue and $90,000 in cost of goods sold when, in reality, Nash did not have a business at all. U.S. Senior District Judge Glen H. Davidson sentenced Nash to serve 18 months imprisonment followed by 5 years supervised release and $738,000 in restitution. As a part of the investigation, the IRS seized two vehicles from Nash worth over $60,000. “This defendant stole money that was intended to help legitimate businesses survive during the COVID pandemic, and now he is paying the price for that conduct,” said U.S. Attorney Clay Joyner. “We hope that this sentence will provide notice to all of those who defrauded their fellow taxpayers in similar fashion that they will be held to account for their actions.” “The sentencing today is an example of the accountability people who fraudulently obtained COVID-19 relief funds can expect,” said Demetrius Hardeman, Special Agent in Charge, IRS Criminal Investigation, Atlanta Field Office. “IRS Criminal Investigation special agents have not stopped pursing those who committed fraud on programs that financially helped Americans during the COVID-19 pandemic.” The Criminal Investigation Division of the Internal Revenue Service investigated the case. Assistant U.S. Attorney Clay Dabbs prosecuted the case. Updated July 29, 2024 Topic Financial Fraud Component USAO - Mississippi, Northern Related Content Press Release Marshall County Woman Sentenced to 52 Months in Prison for COVID IRS Fraud Oxford, MS – Today U.S. District Court Judge Michael P. Mills sentenced Lakisha Pearson, age 48, of Holly Springs, Mississippi, to a 52-month jail sentence for mail fraud in connection... January 30, 2025 Press Release Mother and Son Convicted of CARES Act Fraud Oxford, MS – Zipora Hudson and Montreal Hudson, both of Olive Branch, Mississippi, were convicted of conspiracy to commit wire fraud and conspiracy to commit money laundering following a federal... January 17, 2025 Press Release Mississippi residents convicted of fraud related to Covid-19 loans OXFORD, MS – A federal jury convicted a Columbus man and a Clarksdale woman today for applying for and receiving a fraudulent Economic Injury Disaster Loan from the Small Business... September 11, 2024
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