A federal grand jury has indicted a 52-year-old Fortville, Indiana man on wire fraud charges, accusing him of inventing nonexistent businesses to siphon more than $101,000 in COVID-19 relief funds — money investigators say he then spent at Best Buy and Total Wine rather than on any actual business expenses. Randy Bond made his first federal court appearance on September 16.
A Fabricated Car Wash and a Fake Pet Care Business
According to FOX59, Bond submitted four separate loan applications — two under the Paycheck Protection Program and two under the Economic Injury Disaster Loan program — and received $101,333 in federal pandemic aid. Investigators allege Bond falsely claimed to own and operate a car wash, an automotive repair business and a pet care business, with significant monthly payroll expenses.
Per the U.S. Department of Justice, the alleged scheme ran between July 4, 2020, and October 13, 2021 — a 15-month stretch during which Bond is accused of filing the four loan applications tied to the fabricated car wash, auto repair and pet care businesses. Rather than funding payroll or business operations, investigators say Bond used the relief money for personal purchases at retailers including Best Buy and Total Wine.
The VA's Fiduciary Program
The VA's Fiduciary Program appoints fiduciaries to help manage benefit payments for veterans who need assistance managing their financial affairs, according to the U.S. Department of Veterans Affairs.
The case involved the Small Business Administration and the VA's own Office of Inspector General. The indictment was brought as part of the federal Task Force to Eliminate Fraud.
The Statute of Limitations for PPP Fraud
An extended statute of limitations for PPP fraud gives investigators a longer runway to pursue pandemic-era PPP fraud cases.
A report from the U.S. Small Business Administration Office of Inspector General estimated that more than $200 billion — roughly 17% of the $1.2 trillion disbursed through COVID-19 PPP and EIDL relief — went to potentially fraudulent applicants nationwide.
What Bond Faces If Convicted
Bond was charged with wire fraud; the charge is an accusation.
Federal authorities continue working through pandemic-era PPP fraud cases under extended statute-of-limitations rules. Hoodline has previously reported on a York County man's $341K PPP sentencing.
