A Miami federal jury has found former Broward Deputy Sheriffs Tracy Wade, 51, and Carolyn Wade, 49, guilty of fraud in obtaining loans from the Paycheck Protection Program (PPP). According to the U.S. Attorney's Office for the Southern District of Florida, the married couple secured PPP funds for fictitious sole proprietorship businesses by forging IRS documents as part of their loan applications. The offenses took place while both were employed at the Broward Sheriff’s Office’s Department of Detention.
Evidence presented during the trial showed that the Wades not only received funds based on these fraudulent claims but also sought loan forgiveness through further misrepresentations to the Small Business Administration (SBA). They falsely declared the funds were used for payroll purposes. A sentencing date has yet to be determined, yet the Wades could face up to 20 years for each count of wire fraud and additional years for conspiracies and false statements to the SBA. The court will impose sentences after considering the U.S. Sentencing Guidelines and other statutory factors.
Markenzy Lapointe, U.S. Attorney for the Southern District of Florida, and leaders from the FBI, FRB-OIG, and Sheriff Gregory Tony of BSO, announced the convictions. The investigation was a joint effort among the FBI Miami, FRB-OIG, and BSO. Assistant U.S. Attorneys David A. Snider and Adam Love prosecuted the case, while Assistant U.S. Attorney Darren Grove is managing asset forfeiture related to the case.
To address pandemic-related financial crimes, the Department of Justice has created the COVID-19 Fraud Enforcement Task Force and a COVID-19 Fraud Strike Force, which includes the case of the Wades. For more information on these efforts or to report pandemic-related fraud, the Department of Justice offers resources on their coronavirus response page and the National Center for Disaster Fraud Hotline, where complaints can also be submitted online.
Detailed information related to the court proceedings can be found at the District Court for the Southern District of Florida's website or through the PACER system under case number 23-cr-60173.
