Earl Lamont Taylor, a basketball scout and life coach from Raleigh, North Carolina, has been sentenced to six years in prison. Taylor is required to pay over $500,000 in restitution to the Small Business Administration following his guilty plea to charges of bank fraud and wire fraud. The case stems from Taylor’s involvement in a nationwide scheme that fraudulently obtained nearly $300,000 in Paycheck Protection Program (PPP) loans intended for COVID-19 relief.
Taylor admitted guilt during jury deliberations after a trial held in November. He received the fraudulent loans as part of a larger multimillion-dollar national scheme involving more than 30 defendants who have pled guilty, with 29 already sentenced.
Acting U.S. Attorney Daniel P. Bubar commented on the case: “The Payback Protection Program required a degree of trust in American businesspeople. Thankfully, most were worthy of that trust, but Earl Taylor and his co-defendants were not. This sentence sends a message that those who take advantage of programs like PPP will receive serious consequences for their crimes.”
Special Agent Donald “Trey” Eakins from the IRS Criminal Investigation’s Charlotte Field Office added: “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. Our special agents will continue to work alongside our law enforcement partners to pursue individuals who try to exploit federal relief programs for their personal gain.”
According to court records and evidence presented at trial, Taylor collaborated with Quentin Jackson and Edward Whitaker to secure fraudulent PPP loans for two businesses: Get Me Recruited, LLC and Changing the Game Life Coach. The total amount received was $291,665.50, with Taylor paying Whitaker $72,917.24 for his assistance.
Further investigation revealed discrepancies in the loan applications submitted by Taylor. Employees listed on these applications testified they earned significantly less than stated or had never worked for Changing the Game Life Coach.
Quentin Jackson pled guilty in November 2022 and was sentenced to seven years imprisonment in December. Edward Whitaker also pled guilty in January 2023.
Other individuals involved in this broader “Loanstarters” PPP scheme have faced various legal outcomes as well.
The CARES Act provided emergency financial support during the pandemic through forgivable loans guaranteed by the SBA under the PPP initiative aimed at assisting small businesses economically impacted by COVID-19.
Daniel P. Bubar made this announcement after U.S District Judge James C Dever III accepted Taylor’s plea agreement while acknowledging efforts made by Internal Revenue Service Criminal Investigations alongside Assistant U.S Attorneys William M Gilmore & David Beraka throughout prosecution proceedings
