Chicago Man Convicted of $2.7 Million COVID-Relief Fraud
Summary
A press release of the U.S. Attorney's Office for the Northern District of Illinois dated Wednesday, July 5, 2023, announcing that a federal jury convicted Quamdeen Amuwo, 41, of Chicago of fraudulently obtaining more than $2.7 million in small business loans and grants under the CARES Act. It states that from April to November of 2020 he took part in defrauding the Small Business Administration's Economic Injury Disaster Loan program. According to the release, he submitted numerous applications for businesses he and others purportedly owned, with false statements about owners, employees, revenues, costs and dates of establishment.
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Press Release Chicago Man Convicted of $2.7 Million COVID-Relief Fraud Wednesday, July 5, 2023 For Immediate Release U.S. Attorney's Office, Northern District of Illinois CHICAGO — A federal jury has convicted a Chicago man of fraudulently obtaining more than $2.7 million in small business loans and grants under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. From April to November of 2020, QUAMDEEN AMUWO, 41, participated in a scheme to defraud the Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) program. The EIDL program was intended to provide loan assistance and grants to cover working capital and other operating expenses for legitimate businesses suffering the economic effects of the Covid-19 pandemic. As part of the scheme, Amuwo submitted to the SBA numerous applications for loans on behalf of businesses that he and others purportedly owned. The applications contained false statements and misrepresentations concerning the purported entities’ owners, employees, revenues, costs, and dates of establishment. In an attempt to support his applications, Amuwo provided false business registration forms and bogus personal identifying information of the purported owners. Amuwo caused the SBA to disburse at least $2.7 million in EIDL loans and grants into bank accounts that he and others controlled. He used the money to make cash withdrawals, transfers, and purchases for his personal benefit. After a trial in U.S. District Court in Chicago, Amuwo was convicted June 29, 2023, of all twelve wire fraud counts against him. The jury also found that approximately $120,000 seized from accounts held by Amuwo should be forfeited to the government. Each count of wire fraud is punishable by up to 20 years in federal prison. U.S. District Judge Edmond E. Chang set sentencing for Oct. 10, 2023. The conviction was announced by Morris Pasqual, Acting United States Attorney for the Northern District of Illinois, and Robert W. “Wes” Wheeler, Jr., Special Agent-in-Charge of the Chicago Field Office of the FBI. Substantial assistance was provided by the SBA’s Office of Inspector General. The government is represented by Assistant U.S. Attorneys Heidi Manschreck and Matthew Moyer. Updated July 5, 2023 Topics Coronavirus Cybercrime Financial Fraud Components Federal Bureau of Investigation (FBI) USAO - Illinois, Northern Related Content Press Release Chicago Man Sentenced to 30 Years in Federal Prison for Enticing Girls in the Philippines To Produce Sexually Explicit Images KARL QUILTER, 58, communicated with the girls via Facebook, Viber, and Skype from 2017 to 2020. July 14, 2023 Press Release Federal Jury Convicts Grundy County, Ill. Businessman of Investment Fraud KENNETH D. COURTRIGHT, of Minooka, Ill., owned Today’s Growth Consultant, Inc., which did business under the name The Income Store. July 10, 2023 Press Release Suburban Chicago Businessman Found Guilty of Price Gouging N-95 Masks During Covid-19 Pandemic KRIKOR TOPOUZIAN, owner of Concord Health Supply in Skokie, Ill., was convicted of violating the Defense Production Act. June 30, 2023
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