Two men have pleaded guilty to Paycheck Protection Program fraud that netted them $3.4 million in stolen funds. Russell Anthony Schort, 39, of Myrtle Creek, Oregon, and Andrew Aaron Lloyd, 51, of Lebanon, Oregon, pleaded guilty to a host of charges surrounding the construction related scheme.
In May of 2020, Lloyd applied for a PPP loan in which he claimed Schort's company, Schort-Lee Construction, had paid more than 3 million in wages and the company employed 56 employees, all of which was fabricated. The loan was processed and money was deposited into Schort's bank account which he divided with Lloyd.
This was just one of many schemes that Lloyd orchestrated starting in April 2020. He submitted loan applications under various business names and used the information of numerous people without their consent.
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