MIAMI, Fla. — A developer in South Florida has been convicted of COVID-19 relief fraud for a scheme that deceived private lenders and the Small Business Administration, said the US Attorney’s Office for the Southern District of Florida (USAO).
Eric Dean Sheppard, 55, of Bal Harbour, was convicted on January 12 for submitting fraudulent COVID-19 relief loan applications and aggravated identity theft.
According to the evidence presented at his trial, Sheppard devised a scheme to defraud private lenders and the Small Business Administration (SBA) by filing fraudulent loan applications for multiple companies under both the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program.
The applications were supported by fabricated documents, including the employer’s quarterly tax returns (IRS Form 941) and company tax returns. In addition, evidence revealed that Sheppard’s accountant’s signature was forged on the tax returns.
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From May 2020 to March 2021, Sheppard obtained almost $900,000 in COVID-19 relief loans, said the USAO.
A jury convicted Sheppard on four counts of wire fraud and two counts of aggravated identity theft. He was acquitted of five counts of wire fraud and three counts of aggravated identity theft.
Sentencing is set for April 5, 2024.
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Sheppard is facing a mandatory minimum term of two years in prison that must run consecutive to any other sentence imposed on the aggravated identity theft count(s). He faces up to 80 years in prison on the wire fraud counts, as well as restitution and forfeiture of the loan proceeds.
U.S. Attorney Markenzy Lapointe for the Southern District of Florida and Special Agent in Charge Jeffrey B. Veltri of the FBI, Miami Field Office, announced the conviction. Assistant U.S. Attorneys Aimee Jimenez and Ana Maria Martinez prosecuted the case. Assistant U.S. Attorney Mitch Hyman is handling asset forfeiture.
