After a week-long trial, Nichelle Henson, 38, from Baltimore, Maryland, was convicted by a federal jury for making false statements and committing bank fraud. The charges stemmed from fraudulent applications she submitted to obtain Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans for multiple businesses she had incorporated in Maryland.
The conviction was announced by United States Attorney Kelly O. Hayes for the District of Maryland; William J. DelBagno, Special Agent in Charge of the FBI's Baltimore Field Office; and Brian D. Miller, Special Inspector General for Pandemic Recovery.
Evidence presented at the trial revealed that Henson created several businesses with the State of Maryland such as Crowns Construction, LLC; Nichelle Henson Campaign, LLC; One Stop for Services, LLC; Your Friendly Tax Preparation Services, LLC; Women Entrepreneurs Can Succeed, LLC; and Peace of Mind Services, Inc. She opened bank accounts and obtained Tax Identification Numbers (TINs) from the IRS for these entities.
In 2020 and 2021, Henson filed six fraudulent EIDL applications with the Small Business Administration (SBA), claiming false information about gross receipts and employee numbers. None of these businesses were operational or employed any staff at the time. Consequently, she received $18,000 from the SBA.
During this period, Henson also submitted twelve PPP loan applications to three SBA-approved lenders containing false details about employees and payrolls supported by fictitious IRS tax forms that were never filed. Between April 30 and June 29 of 2020 alone, she filed six PPP applications under various business names including her campaign entity which was no longer active after she withdrew her candidacy on November 19, 2019.
Henson's fraudulent activities led to acquiring $998,590 through these six applications. On January 19th of 2021 she further attempted another set of six fraudulent PPP loan applications to M&T Bank resulting in five approved loans totaling $676,250 before M&T froze her accounts upon suspecting fraud.
The misappropriated funds were used not only on unauthorized expenses but also on ventures like Wyse Rides—a car dealership—and Subina Coin cryptocurrency among others which did not materialize into functioning businesses.
Henson faces up to thirty years imprisonment per count of bank fraud alongside five years per count for false statements with sentencing scheduled by U.S District Judge Matthew J Maddox on August fifth this year where restitution is expected towards both SBA along with affected financial institutions involved within case proceedings led under supervision by PRAC Fraud Task Force affiliated Strike Forces focused primarily against pandemic-related relief fund misuse nationwide orchestrated via DOJ initiatives combating CARES Act infractions across America involving coordinated interagency law enforcement operations centered around identifying perpetrators responsible behind large-scale transnational organized crime networks engaging therein illicit appropriation activities impacting public welfare resources allocated amid COVID-19 crisis response measures enforced accordingly throughout jurisdictional boundaries applicable thereto respective localities concerned herein described matters 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