ATLANTA — Ten people have been charged with federal loan fraud and money laundering, accused of defrauding U.S. Small Business Administration programs of over $9 million.
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The defendants allegedly submitted false applications to the Economic Injury Disaster Loan and Paycheck Protection Program using real companies’ information without authorization. They are accused of using the fraudulently obtained funds to purchase luxury items and conduct cash withdrawals.
“Fraud schemes, like the ones perpetrated by these defendants, stole valuable resources meant to assist small businesses and citizens during difficult times,” said United States Attorney Theodore S. Hertzberg.
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According to U.S. Attorney Hertzberg, the indictment revealed that between November 2020 and June 2023, David Nathaniel Black, Jr., and others used stolen identification information to submit unauthorized loan applications. These applications included false details about the companies, such as employee numbers and financial data, supported by fraudulent documents.
For example, Black allegedly used the proceeds to make extravagant purchases, including:
- $200,000 for a 2022 Bentley Bentayga;
- $350,000 for a 2020 McLaren 720S convertible;
- $142,680 for the down payment of a 2023 Mercedes-Benz G-Class Wagon;
- $180,645 to pay the annual rent for a luxury home.
Black, 31, of Newnan, was charged with 17 counts of wire fraud, which carries a maximum sentence of 20 years’ imprisonment per count, and 17 counts of aggravated identity theft, which carries a mandatory, consecutive term of imprisonment of two years per count. Black was also charged with over 100 counts of money laundering, which carries a maximum sentence of 10 years’ imprisonment per count.
In addition to Black, the following individuals were charged with multiple counts of money laundering:
- Rashad Avery, 36, of Atlanta;
- Tara Batson, 31, of Atlanta;
- Chris Elvins Constant, 25, of Ft. Pierce, Fla.;
- Nicole Cooley, 35, of Baltimore, Md;
- Reginald Douglas, 32, of Atlanta;
- Yvenord Guerilus, 24, of Miami, Fla;
- Carson Merice, 25, of Miami, Fla;
- Rise Robinson, 36, of Atlanta; and
- George Thompson, 33, of Atlanta;
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Black and Constant are also charged with conspiracy to launder money from a fraudulent unemployment insurance scheme.
Nine of the defendants have appeared in federal court following their arrests. Authorities are still seeking the whereabouts of Robinson, one of the charged individuals.
Anyone with information is urged to contact the FBI at tips.fbi.gov or 800-CALL-FBI.
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