Earl Lamont Taylor, a basketball scout and life coach from Raleigh, has been sentenced to six years in prison for his involvement in a scheme to fraudulently obtain nearly $300,000 in COVID-19 relief loans. Taylor was also ordered to pay over half a million dollars in restitution to the Small Business Administration. The sentencing follows Taylor's guilty plea to charges of bank fraud and wire fraud during jury deliberations at his trial.
Acting U.S. Attorney Daniel P. Bubar commented on the case, stating, "The Payback Protection Program required a degree of trust in American businesspeople. Thankfully, most were worthy of that trust, but Earl Taylor and his co-defendants were not. This sentence sends a message that those who take advantage of programs like PPP will receive serious consequences for their crimes."
Special Agent Donald “Trey” Eakins from the IRS Criminal Investigation Charlotte Field Office highlighted the defendant's actions: "The defendant conspired to take advantage of critical aid programs intended to provide relief for businesses affected during the pandemic by fraudulently applying for and obtaining COVID-19 program funds."
Court records reveal that Taylor collaborated with Quentin Jackson and Edward Whitaker to secure fraudulent Paycheck Protection Program (PPP) loans for two businesses: Get Me Recruited, LLC and Changing the Game Life Coach. Evidence showed that these businesses either had minimal legitimate operations or none at all during the relevant period.
Jackson pled guilty in November 2022 and received a seven-year prison sentence in December. Whitaker also pled guilty earlier this year.
Taylor is one among many defendants involved in what authorities describe as a broader "Loanstarters" PPP scheme. Several individuals have already been sentenced as part of this investigation.
The CARES Act facilitated emergency financial assistance through forgivable loans under the PPP program, aiming to support small businesses impacted by the pandemic. These loans were issued by financial institutions with guarantees from the Small Business Administration.
The announcement regarding Taylor's sentencing was made by Acting U.S. Attorney Daniel P. Bubar following acceptance of his plea by U.S. District Judge James C. Dever III.
