MIAMI (CBSMiami/AP) – A Tampa-area man who collected over $800,000 in COVID-19 relief funds has been sentenced to three years and six months in prison for fraudulently collecting the funds.
Louis Thornton III, 63, of St. Petersburg, was sentenced Friday in Tampa federal court, according to court records. He pleaded guilty in September to wire fraud. He must also pay back the money he received.READ MORE: COVID uptick being felt across South Florida as CDC recommends taking added precautions
According to court documents, Thornton submitted fraudulent applications in 2020 for Economic Injury Disaster Loan and Paycheck Protection Program loans through the Small Business Administration on behalf of several defunct companies.READ MORE: Gov. Ron DeSantis to sign off on housing money
The documents said Thornton’s applications fraudulently claimed the companies were operational and had suffered economic injury from the pandemic. Thornton obtained a total of $814,632.50 and used the money to invest in stocks, futures and commodities, the documents said.
The Paycheck Protection Program represents billions of dollars in forgivable small-business loans for Americans struggling because of the COVID-19 pandemic. It’s part of the coronavirus relief package that became federal law in 2020.MORE NEWS: Second Suspected Case Of Monkeypox In Broward Under Investigation
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