WMBF News reports that ROBESON COUNTY, NC (WMBF) - A Robeson County man pleaded guilty to stealing more than $170,000 in fraudulent COVID-19 loans meant for small businesses.
The Department of Justice announced Monday that Phillip Collins, 47, pleaded guilty to conspiracy to commit wire fraud.
Collins stole from the Small Business Administration’s Economic Injury Disaster Loan and Paycheck Protection Program by submitting false loan applications, receiving $170,833 in proceeds.
He applied for the loans using a Robeson County business, lying about the number of employees and gross revenues.
He also submitted fraudulent tax forms and bank statements.
After his loans were approved, the funds went directly into Collins’ personal bank account.