A Detroit resident has been sentenced to 24 months in federal prison, followed by four years of supervised release, and is required to pay $14.5 million in restitution for his role in a Paycheck Protection Program (PPP) loan fraud scheme. This was announced by Acting United States Attorney Troy Rivetti.
Matthew Lloyd Parker, 37, received the sentence from United States District Judge W. Scott Hardy. Between March 2020 and August 2021, Parker conspired with others to defraud lenders through false PPP loan applications intended for COVID-19 pandemic relief. The fraud scheme is considered the largest known PPP fraud in the Western District of Pennsylvania.
Parker, a licensed CPA, recruited hundreds of small businesses in Pittsburgh and Detroit and submitted falsified PPP loan applications on their behalf. More than 200 of these applications were approved by the Small Business Administration, resulting in loans totaling approximately $14.5 million. It was argued that Parker's expertise as a CPA enabled him to effectively falsify documents and secure substantial loans for others while earning around $1.5 million in processing fees for himself.
Assistant United States Attorney Gregory C. Melucci represented the government in this case. Acting United States Attorney Rivetti acknowledged the Federal Bureau of Investigation and United States Postal Inspection Service for their work leading to Parker's prosecution.
