Marco Raquan Honesty, 28, of Virginia, pleaded guilty today to multiple fraud schemes involving COVID-19 relief funds, phishing scams, forged documents, and the sale of stolen financial information, resulting in more than $500,000 in losses.
According to the U.S. Attorney’s Office for the Eastern District of Virginia, between April and October 2021, Honesty conspired with at least 15 other individuals to defraud the Paycheck Protection Program (PPP). He submitted 25 fraudulent loan applications, backed by falsified tax returns, causing $509,069 in losses to the Small Business Administration (SBA).
Honesty secured loans not only for himself but also for family members, including his father, grandmother, and the mother of his children. He also carried out a “smishing” scam, sending fraudulent text messages pretending to be banks, tricking victims into disclosing sensitive account credentials.
In addition, Honesty used one victim’s stolen information to purchase temporary permits from the Texas Department of Motor Vehicles for a car dealership fraud scheme. The scheme involved fake IDs, cashier’s checks, and insurance documents.
Between December 2021 and January 2022, Honesty altered $1 money orders, inflating their amounts to $500 or $1,000. He deposited at least $79,700 in fraudulent money orders, often withdrawing the funds before banks could reverse the transactions.
The U.S. attorney’s office also revealed that Honesty carried out bank account takeovers, transferring victims’ funds via Zelle and intrabank transfers without their consent.
In September 2023, law enforcement conducted a search of Honesty’s residence, seizing 24 cellphones, multiple laptops, blank Social Security card templates, IRS 1099 forms, and other fraud-related items.
The case underscores the ongoing efforts to address fraudulent activity related to pandemic relief programs and other financial crimes.