A Texas man pleaded guilty and was sentenced on Friday for his role in a Covid-era loan fraud scheme that used the stolen identities of Maine and New Hampshire residents.
Currin Caridine, 39, of Texas, pleaded guilty in the U.S. District Court in Portland to charges of wire fraud and conspiracy to commit wire fraud. He was sentenced on the same day to 41 months in prison and was ordered to pay $476,420 in restitution to the Small Business Administration (SBA).
Cardine conspired from June 2020 through September 2021 to file fraudulent Economic Injury Disaster Loans (EIDLs) and Paycheck Protection Program (PPP) loans.
He filed four PPP loan applications himself and obtained over $80,000. In his filings, he claimed to be the proprietor of non-existent management consulting and entertainment businesses.
He also filed false tax returns with the applications.
At the time, Cardine was living in Illinois and also filed false EIDL and PPP applications on behalf of others, including NH and Maine residents.
He worked with co-conspirator Tyree Jones of NH to recruit people interested in receiving loan funds.
Jones then obtained the interested parties personal information, which Caridine used to file fraudulent applications.
The conspirators then obtained kickbacks from the loans they filed on others’ behalf. Overall, the duo obtained $475,000 in funds through their fraud scheme.
Jones was previously sentenced to two years in prison for his role in the scheme.
Good news but, unfortunately, it’s only the tip of the iceberg.
At least some are paying the price for cheating me, the tax payer.