Florida Tax Preparer Charged in Connection with $7 Million Loan Fraud Scheme

A Florida tax preparer was charged in an indictment filed in the Eastern District of Pennsylvania yesterday with scheming to fraudulently obtain more than $7 million in Paycheck Protection Program (PPP) loans, Economic Injury Disaster Loans (EIDL) and pre-pandemic Small Business Administration (SBA) loans, and to launder the proceeds of the illegal scheme. Osborne also provided a “script” to scheme participants to use in calls with lenders. Osborne and the California co-conspirators allegedly obtained over $7.3 million in PPP, EIDL, and SBA loans. Osborne is charged with conspiracy to commit wire and bank fraud, wire fraud, bank fraud, and conspiracy to commit money laundering. Polite Jr. of the Justice Department’s Criminal Division; U.S. Attorney Jennifer Arbittier Williams for the Eastern District of Pennsylvania; Special Agent in Charge Amaleka McCall-Brathwaite of the Small Business Association Office of Inspector General (SBA-OIG) Eastern Region; Special Agent in Charge Yury Kruty of IRS-Criminal Investigation (IRS-CI) Philadelphia Field Office; Special Agent in Charge Brian Michael of Homeland Security Investigations (HSI) Philadelphia Field Office; and Acting Assistant Director Jay Greenberg of the FBI's Criminal Investigative Division made the announcementThis case was investigated by the SBA-OIG, IRS-CI, HSI’s Philadelphia Field Office, and the FBI’s Philadelphia Field Office.