A Lewiston man, Shahied Golden, has been sentenced in U.S. District Court in Bangor for fraudulently obtaining a Paycheck Protection Program (PPP) loan during the COVID-19 pandemic. U.S. District Judge John A. Woodcock, Jr. sentenced Golden to 12 months and one day in prison, followed by three years of supervised release. He is also required to pay $24,090.82 in restitution.
Golden pleaded guilty on September 27, 2024. His federal sentence will be served consecutively to a 27-month state prison sentence he is currently serving for illegal possession of a firearm and violating state probation.
Court records reveal that in April 2021, Golden submitted a fraudulent PPP loan application, securing approximately $20,833 in funds by falsely reporting his gross income for 2020 and claiming the loan was necessary for payroll payments for his alleged business. Additionally, he provided false documentation supporting these claims and deposited the funds into his personal bank account without using them for approved expenses.
The case was investigated by Homeland Security Investigations.
The Paycheck Protection Program (PPP) was part of the COVID-19 relief efforts managed by the Small Business Administration (SBA). It offered forgivable loans to small businesses to retain jobs and cover specific expenses such as payroll and utilities during the pandemic. Loans were guaranteed by the SBA but disbursed through participating third-party lenders.
