Sherry Joseph, 34, of New York, New York, pleaded guilty in the Southern District of Florida to conspiracy to commit wire fraud on Nov. 10, 2022.
According to court documents, Joseph recruited multiple individuals to apply for fraudulent PPP loans in exchange for kickbacks from their PPP loan proceeds.
Joseph used aliases to send the information of her recruits to co-conspirators, who used this information to prepare fraudulent PPP loan applications that included falsified bank statements and payroll tax forms and falsely represented the borrowing entities’ number of employees and amount of monthly payroll.
Joseph engaged in the scheme while on pretrial release for separate federal fraud-related offenses in the District of New Jersey.
In addition to her prison sentence, Joseph was ordered to serve three years of supervised released and pay $1,612,837.78 in restitution and $55,000 in forfeiture.
In total, 30 people have been charged for their participation in this scheme in the Southern District of Florida, Northern District of Ohio, and Middle District of North Carolina.
All 30 of those defendants have been convicted.
Full Link ( Kttn ) Here
