J. Bishop Grewell Acting United States Attorney for the District of Colorado | U.S. Attorney for the District of Colorado
Joseph Ronald Trenkle, 54, has been charged with wire fraud and money laundering in connection to alleged CARES Act loan fraud. Trenkle, formerly of Cherry Hills Village, Colorado, and now residing in Dorado, Puerto Rico, is accused of securing $1,850,000 in COVID-19 Economic Injury Disaster Loans (EIDL) from the Small Business Administration (SBA) and $2,999,995 in Paycheck Protection Program (PPP) funds through fraudulent means.
The allegations state that between April 30, 2020, and February 25, 2022, Trenkle submitted false representations to increase his EIDL loans after initially obtaining one in March 2020. He is also accused of submitting two fraudulent PPP loan applications and applying for forgiveness on these loans under false pretenses.
The CARES Act was enacted in March 2020 to assist Americans affected by the economic impact of the COVID-19 pandemic. It established the PPP to help small businesses retain employees and manage payroll expenses. The SBA was also authorized to provide EIDLs to businesses experiencing financial disruption due to the pandemic.
Trenkle made his initial court appearance on May 22, 2025, before Magistrate Judge Cyrus Y. Chung in Denver. The charges against him are allegations at this stage; he is presumed innocent until proven guilty.
The investigation involves multiple agencies: the Federal Bureau of Investigation, Federal Deposit Insurance Corporation Office of Inspector General, Internal Revenue Service Criminal Investigation, and Small Business Administration Office of Inspector General. Assistant United States Attorney Craig Fansler is prosecuting the case.
Individuals with information about attempted COVID-19 fraud can report it via the Department of Justice’s National Center for Disaster Fraud Hotline or through their online complaint form.
