NC man pleads guilty to COVID-19 loan fraud

GREENVILLE, N.C. (WNCN) — A Cary man pleaded guilty to a multi-million dollar fraud scheme, US Attorney Michael Easley said in a release.

Quentin Allen Jackson, 56, pleaded guilty Wednesday to “conspiracy to launder money in connection with the Paycheck Protection Act illicit earnings.”

According to Easley, Jackson worked with other companies to obtain fraudulent Paycheck Protection Program (PPP) loans under multiple companies “under Jackson’s control.”

After Jackson received his PPP loan, he worked with co-conspirators to make it appear that he was “paying his employees a bi-weekly salary,” but these people either did not work for the company or “they did not actually receive comparable wages,” was represented in the loan application. ”

Jackson then told those who received the check to “cash the check and return the illegal cash to him.”

Jackson also acted as an intermediary for the conspirators, Easley said. He earned a commission “for each additional fraudulent borrower he solicited.”

And he recruited over a dozen people who got fraudulent PPP loans.

“Defendants received money to support struggling small businesses during the pandemic,” Easley said. “We will vigorously pursue criminals who have filled their pockets with taxpayer money while the pandemic cripples local businesses.”

Jackson and his co-conspirators received about $4 million in fraudulent PPP loans, Easley said.

Jackson is due to be sentenced next year.

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