Glynn Hubbard, 45, was arrested in July 2023 by federal authorities in Charlotte, NC. The suspect is charged with wire fraud and money laundering, for allegedly obtaining more than $1.2 million in fraudulent Paycheck Protection Program (PPP) and Economic Injury Relief Disaster Loan (EIDL) Program loans.
According to allegations in the indictment, from March 31, 2020, to August 1, 2020, Glynn allegedly submitted fraudulent PPP loan and EIDL applications to the U.S. Small Business Administration and SBA approved lenders.
Federal prosecutors say Glynn was seeking to obtain relief funds for his businesses.
To obtain the relief funds, the indictment alleges that the suspect falsified information in loan applications and supporting documentation, and provided false financial information, fake employment data, and fraudulent tax returns for his businesses.
Glynn received more than $570,000 in relief funds. Prosecutors say Glynn also executed the scheme by submitting false and fraudulent applications for PPP and EIDL funds on behalf of customers of his businesses, causing more than $660,000 in relief funds to be disbursed to his customers.
The indictment says Glynn allegedly promoted the fraudulent scheme through personal referrals and in social media posts where he advertised that he was a PPP loan/EIDL consultant.
Over the course of the scheme, Glynn allegedly received improper loan preparer fees for his services totaling more than $150,000, and, to avoid detection, he allegedly required customers to pay the loan preparation fees in cash, via cashier’s checks, or wire transfers.
