Two Oregon men are facing federal charges for fraudulently using loans for COVID-19 pandemic business relief, announced U.S. Attorney Billy J. Williams.
Andrew Aaron Lloyd of Lebanon, Oregon, and Russell A. Schort of Myrtle Creek, Oregon, have been charged with wire fraud, bank fraud, and money laundering.
Lloyd and Schort took advantage of economic relief programs run by the Small Business Administration (SBA), including the Paycheck Protection Program (PPP), as authorized by The CARES Act
A review of bank records revealed that Lloyd and Schort applied for and received at least three PPP loan payments using three separate entities, totaling more than $2.2 million.
Schort was arrested yesterday by the FBI. Lloyd was arrested today by FBI agents.