Jury Convicts Ocala Man For COVID Relief Fraud
Summary
A press release of the U.S. Attorney's Office for the Middle District of Florida dated Monday, September 30, 2024, announcing that a federal jury found Henry Troy Wade, 47, of Ocala, guilty of six counts of wire fraud. It states that he faces a maximum penalty of 20 years in federal prison for each count and that a grand jury indicted him on November 22, 2022. According to testimony and evidence presented at trial, between April 5, 2020, and March 24, 2021, he applied for 11 Economic Injury Disaster Loans on behalf of 5 businesses he claimed to own, including a restaurant, a farm, a child daycare and two heating and air conditioning businesses. The release states that five applications were approved and he received $524,400 through four loans and two grants, although he lacked the necessary licenses for any of these businesses.
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Press Release Jury Convicts Ocala Man For COVID Relief Fraud Monday, September 30, 2024 For Immediate Release U.S. Attorney's Office, Middle District of Florida Ocala, Florida – United States Attorney Roger B. Handberg announces that a federal jury has found Henry Troy Wade (47, Ocala) guilty of six counts of wire fraud. Wade faces a maximum penalty of 20 years in federal prison for each count. His sentencing hearing is scheduled for January 2025. A federal grand jury had returned an indictment against Wade on November 22, 2022. According to testimony and evidence presented at trial, the United States Small Business Administration (SBA) provided loans to small businesses during the COVID-19 pandemic. One source of funds came from Economic Injury Disaster Loans (EIDLs). Between April 5, 2020, and March 24, 2021, Wade applied for 11 EIDLs on behalf of 5 different businesses he claimed to own. Five of these applications were approved and Wade electronically received $524,400 through four loans and two grants. Wade’s EIDL applications, however, contained multiple factual misrepresentations. Wade claimed he owned a restaurant, a farm, a child daycare, and two heating and air conditioning businesses. In actuality, Wade did not have the necessary licenses for any of these types of businesses. Even though he listed multiple employees on the EIDL applications, Wade never had paid any employment taxes nor had he registered the business names with the Internal Revenue Service or the Florida Department of Revenue. Wade also misrepresented his business income on the assorted applications by hundreds of thousands of dollars. This case was investigated by the United States Secret Service. It is being prosecuted by Assistant United States Attorney Hannah Nowalk. Updated September 30, 2024 Topics Coronavirus Disaster Fraud Financial Fraud Component USAO - Florida, Middle Related Content Press Release Former Church Records And Finance Manager Sentenced To Federal Prison For Embezzling Over $875,000 Tampa, FL – U.S. District Judge Steven D. Merryday has sentenced Heather Darrey (45, Tampa) to 27 months in federal prison for wire fraud. As part of her sentence, the court also entered an... November 14, 2024 Press Release Paroled Felon Sentenced To Six Years For Fraudulent Use Of Social Security Number And Theft Of Benefits Tampa, Florida – U.S. District Judge William F. Jung has sentenced Kellis Dion Jackson (63, Pinellas Park), a/k/a Chandler Dante Alexander, to six years in federal prison for making a false statement to... November 7, 2024 Press Release Owner And Manager Of Cape Coral Roofing Company Plead Guilty To Tax Fraud Conspiracy Fort Myers, Florida – United States Attorney Roger B. Handberg announces that William Skaggs, Jr. and Billie Adkison today pleaded guilty to conspiracy to commit tax fraud. Each faces a maximum penalty of five years... November 7, 2024
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