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Somerset County man sentenced to 46 months in prison for $1.6M COVID-19 loan fraud scheme

SOMERSET, NJ (Somerset County) – A Somerset County man was sentenced Wednesday to 46 months in prison for fraudulently obtaining $1.6 Million in federal Paycheck Protection Program (PPP) and Economic Insurance Disaster Loan (EIDL) funds, according to U.S. Attorney Philip R. Sellinger.

Jordan C. Larkins, 32, of Somerset previously pleaded guilty before U.S. District Judge Zahid N. Quraishi to one count of wire fraud, one count of bank fraud, and one count of money laundering. Judge Quraishi imposed the sentence Wednesday in Trenton federal court, Sellinger said.

According to documents filed in this case and statements made in court, from May 2020 through July 2020, Larkins perpetrated a scheme to defraud PPP lenders and the SBA by submitting three fraudulent PPP loan applications to three different lenders and 11 fraudulent EIDL applications to SBA. The fraudulent applications resulted in a total loss of $1.64 million to the lenders and the SBA. Larkins misused the funds by, among other things, transferring funds to a foreign bank and paying various personal expenses.

Judge Quraishi also sentenced Larkins to three years of supervised release and order restitution in the amount $ 1.64 million.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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