Earl Lamont Taylor, a Raleigh basketball scout and self-proclaimed life coach, has been handed a six-year prison sentence after pleading guilty to bank fraud and wire fraud charges related to obtaining nearly $300,000 in fraudulent COVID-19 relief loans, as part of a wider multimillion-dollar scheme. This news was announced by Acting U.S. Attorney Daniel P. Bubar for the Eastern District of North Carolina and was originally reported by the U.S. Department of Justice.
"The Payback Protection Program required a degree of trust in American businesspeople," Bubar said,, "Thankfully, most were worthy of that trust, but Earl Taylor and his co-defendants were not." These remarks come after Taylor's sentencing, which also includes an order to pay over half a million dollars in restitution. Taylor's fraudulent applications claimed inflated salaries for employees and involved nonexistent business activities, as per the Department of Justice.
Special Agent in Charge Donald "Trey" Eakins underscored the government's intention to crack down on fraud, stating, "The defendant conspired to take advantage of critical aid programs intended to provide relief for businesses affected during the pandemic by fraudulently applying for and obtaining COVID-19 program funds." He asserted that the IRS Criminal Investigation division would continue to collaborate with law enforcement to pursue individuals who exploit federal relief programs, as detailed by the Department of Justice.
Court records revealed Taylor's involvement with Quentin Jackson and Edward Whitaker in securing fraudulent loans for Get Me Recruited, LLC, and Changing the Game Life Coach. Taylor paid Whitaker a sum of $72,917.24 for his role in the scam. More than 30 individuals have faced charges in connection with the racket, and to date, 29 have been sentenced, including Jackson who received a seven-year prison term in December.
The CARES Act authorized up to $649 billion in forgivable loans through the Paycheck Protection Program (PPP) to help small businesses during the COVID-19 pandemic. This program was overseen by the Small Business Administration (SBA), and financial institutions were responsible for issuing the PPP loans. Taylor's actions represent a betrayal of the very essence of this aid initiative, designed to alleviate economic suffering for Americans during a time of unprecedented crisis. According to the Justice Department's report, U.S. District Judge James C. Dever III accepted Taylor's plea, and Assistant U.S. Attorneys William M. Gilmore and David Beraka were the prosecutors on this case.
