TAMPA, Florida (WFLA) — A West Palm Beach man pleaded guilty to two counts of bank fraud while applying for a Paycheck Protection Program loan in Naples. According to the U.S. Attorney’s Office for the Central District of Floridaa.
The USAO said 43-year-old Al Clint LaRoche has filed false and fraudulent First Draw and Second Draw PPP loan applications against his Naples-based company, Bornwild, LLC.
These applications “contained numerous false representations and certifications, including those relating to Bornwild’s average monthly salary, number of employees, and that loan funds will be used for authorized purposes.”
To qualify for the loan, LaRoche sent Bornwild a “fake fictitious quarterly federal tax return.” As a result, LaRoche received his PPP funding of over $1 million and was credited to his bank account.
The USAO then announced that LaRoche would make cash payments between April 2020 and April 2021, in addition to purchasing Mercedes-Benz SUVs, buying jewelry, paying for hotel and travel accommodations, and purchasing various retail items. withdrew $350,000.
LaRoche pleaded guilty to two counts of bank fraud on January 30. He faces up to 30 years in federal prison for each count. The judge will decide his sentence on a date that has not yet been decided.
https://www.wkrg.com/state-regional/florida/florida-man-pleads-guilty-to-bank-fraud-in-ppp-loan-applications-usao-says/ Florida man pleads guilty to bank fraud in PPP loan application, USAO says