Acting U.S. Attorney Michael M. Simpson has announced the indictment of Irvin C. Francois, III, a 53-year-old resident of New Orleans, on charges related to the CARES Act fraud and money laundering. The indictment, issued on June 20, 2025, alleges that Francois made false statements to obtain a Paycheck Protection Program (PPP) loan and then engaged in money laundering.
The CARES Act, signed into law on March 27, 2020, was designed to provide emergency assistance to small businesses impacted by the COVID-19 pandemic through the United States Small Business Administration (SBA). The Paycheck Protection Program (PPP) was one of its primary funding sources.
According to court documents, Francois allegedly submitted false information on behalf of his business to secure approximately $144,790 in PPP funds around March 24, 2021. He is accused of using these funds to purchase an automobile from a dealership in Kenner, Louisiana.
Simpson emphasized that an indictment is merely a charge and that Francois's guilt must be established beyond a reasonable doubt. If convicted, Francois could face up to five years in prison for making false statements and up to ten years for money laundering. Each count carries potential fines up to $250,000, up to three years of supervised release, and a $100 mandatory special assessment fee.
For further details on the Department of Justice’s actions concerning the pandemic or to report COVID-19 related fraud attempts, individuals can visit their website or contact the National Center for Disaster Fraud Hotline.
This case was investigated by an agent from the Pandemic Response Accountability Committee (PRAC) Fraud Task Force. The PRAC focuses on transparency and oversight regarding federal COVID-19 response spending exceeding $5 trillion. It involves agents from multiple Inspectors General who are equipped with specialized tools and training for investigating pandemic-related fraud.
Simpson acknowledged the investigative efforts of both the U.S. Department of Veterans Affairs - Office of Inspector General and the Internal Revenue Service - Criminal Investigation. Assistant U.S. Attorney Edward J. Rivera is handling the prosecution.
