William Chadwick, a 62-year-old resident of Akron, Colorado, has pleaded guilty to one count of money laundering related to COVID-19 relief funds. The announcement was made by the United States Attorney’s Office for the District of Colorado. Chadwick has agreed to repay the fraudulent proceeds he obtained through various relief programs.
The plea agreement outlines that between May 2020 and August 2022, Chadwick laundered funds from several COVID-19 relief initiatives. These included Unemployment Insurance (UI) benefits, Emergency Rental Assistance (ERA) Program proceeds, and Paycheck Protection Program (PPP) loan proceeds. Chadwick engaged in financial transactions involving wire fraud proceeds and will pay restitution for an estimated $228,284.09 that he laundered.
Chadwick's addresses were reportedly used on over 100 UI benefits applications submitted for other individuals during this period. He received approximately $97,161 in UI and ERA benefits intended for others into bank accounts he controlled. In April 2021, his personal information was used to submit a PPP application with false statements, resulting in an approved loan of $20,833.
The CARES Act was enacted in March 2020 to provide financial assistance during the COVID-19 pandemic. It created the PPP administered by the Small Business Administration (SBA) to support small businesses in retaining workers and covering payroll and other expenses according to PPP rules. Additionally, unemployment benefits eligibility was expanded through several federal programs due to the pandemic.
In early 2021, Congress established the ERA program to assist low-income households with rent and other housing-related expenses amid the pandemic.
This case is under investigation by the U.S. Department of Labor Office of Inspector General and the Department of Homeland Security Office of Inspector General. Assistant United States Attorney Nicole Cassidy is prosecuting it.
For information on allegations of attempted fraud involving COVID-19 relief funds, contact can be made via the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or through their web complaint form.
Case Number: 25-cr-00127-WJM
