A Chicago man has been sentenced to 18 months in federal prison for fraudulently obtaining nearly $2 million in small business loans through Covid-19 relief programs.
According to federal prosecutors, Samuel W. Jackson submitted multiple applications to lenders and the U.S. Small Business Administration (SBA) in 2020 as part of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program (EIDL), both established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The applications contained false information about business employment figures, payroll costs, and operating expenses.
Authorities said that Jackson and others used the loan proceeds for personal expenses. These included spending $500,000 on luxury vehicles, nearly $230,000 at restaurants, bars, and entertainment venues, and $116,000 on rent.
Jackson, 45, who previously lived in Chicago, pleaded guilty earlier this year to charges of wire fraud and money laundering. On August 20, 2025, U.S. District Judge Matthew F. Kennelly sentenced him to a year and a half in prison and ordered him to pay approximately $1.9 million in restitution.
The announcement was made by Andrew S. Boutros, United States Attorney for the Northern District of Illinois; Douglas S. DePodesta, Special Agent-in-Charge of the FBI’s Chicago Field Office; with assistance from the SBA Office of Inspector General.
“Defendant was the hub of a fraudulent scheme,” Assistant U.S. Attorneys Christopher K. Veatch and Branka Cimesa argued in the government’s sentencing memorandum. “Defendant abused a federal program funded by taxpayer money and designed to help those in need.”
