Two men from California have been sentenced to federal prison for their involvement in a complex money laundering conspiracy that defrauded a Bergen County resident and misused funds from the Small Business Administration’s (SBA) Economic Injury Disaster Loan (EIDL) program, according to the U.S. Attorney’s Office.
Eric Bullard, 62, of Los Angeles, was sentenced to 37 months in prison, while Anthony Hannah, 61, of Moreno Valley, received a 33-month sentence. Both men pleaded guilty to conspiracy to commit money laundering before U.S. District Judge Madeline Cox Arleo. They were also ordered to serve three years of supervised release, pay restitution totaling $705,400, and face forfeiture penalties of $611,395 for Bullard and $375,400 for Hannah.
The fraud operation, which included a business email compromise (BEC) incident in June 2020, was multifaceted. In that case, a co-conspirator impersonated a law firm involved in a real estate transaction with a New Jersey victim. The fraudster convinced the victim to wire approximately $560,000 to a bank account controlled by Bullard. After receiving the money, Bullard withdrew the funds and transferred portions of the proceeds, including $230,000 sent to an account controlled by Hannah.
Additionally, Bullard and Hannah fraudulently applied for federal COVID-19 relief funds through the SBA’s EIDL program. Bullard received $143,100 in July 2020 under the pretense of operating a pharmacy business in Colorado, while Hannah was awarded $145,400 through a fake business in Idaho. Hannah then transferred over $51,000 of his EIDL funds to Bullard’s account.
The investigation, led by the FBI’s Woodland Park Office and prosecuted by Assistant U.S. Attorney Farhana C. Melo, is part of the District of New Jersey COVID-19 Fraud Enforcement Strike Force. The strike force, which involves multiple federal agencies, was created to identify and prosecute large-scale fraud tied to pandemic relief funds, using data-driven investigations and interagency collaboration.
The investigation is still ongoing as authorities continue to identify and pursue others involved in similar fraudulent activities.
