CALIFORNIA – On August 22, the U.S. Department of Justice announced that Emanuel Tucker, 45, of Canyon Lake, California, has pleaded guilty to defrauding the Small Business Administration (SBA) of nearly $15.9 million in COVID-19 relief loans.
Between April 2020 and April 2022, Tucker and co-conspirators submitted dozens of fraudulent PPP and EIDL loan applications for various companies he controlled. The applications included fake claims about payroll, employee numbers, revenue, and business expenses. Forged supporting documents were also used to secure the funds.
Instead of using the money for legitimate business needs, Tucker spent the stolen funds on extravagant purchases, including:
Multi-million-dollar homes
Luxury vehicles
Expensive jewelry, including a $63,000 ring and a $400,000 necklace
“The defendant’s egregious scheme relied on layers of deception to steal taxpayer money to buy himself luxury vehicles, residential properties, and jewelry,” said DOJ Acting Assistant Attorney General Matthew R. Galeotti. “The Criminal Division remains dedicated to holding fraudsters accountable.”
Tucker pleaded guilty to conspiracy to commit wire fraud and bank fraud. He now faces a maximum sentence of 20 years in prison, with sentencing scheduled for December 4.
The case is part of the DOJ Criminal Division’s ongoing crackdown on pandemic-related financial fraud. So far, over 200 individuals have been charged in more than 130 cases, with over $78 million in cash, real estate, and luxury goods recovered.
