William Chadwick, a 62-year-old resident of Akron, Colorado, has pleaded guilty to money laundering charges related to COVID-19 relief funds. The United States Attorney’s Office for the District of Colorado announced that Chadwick admitted to laundering proceeds from relief programs and agreed to repay the fraudulent gains.
The plea agreement reveals that Chadwick laundered funds obtained from various COVID-19 relief initiatives between May 2020 and August 2022. These included Unemployment Insurance (UI) benefits, Emergency Rental Assistance (ERA) Program proceeds, and Paycheck Protection Program (PPP) loan proceeds. He engaged in multiple financial transactions involving wire fraud proceeds and is required to pay restitution amounting to approximately $228,284.09.
Further details from the plea agreement indicate that over 100 UI benefits applications listed addresses associated with Chadwick. During the specified period, he received around $97,161.00 in UI and ERA benefits meant for other individuals, which were deposited into bank accounts under his control. In April 2021, Chadwick’s personal information was used to submit a PPP application containing false statements; this application was approved for $20,833.00.
The CARES Act, enacted in March 2020, aimed to provide financial aid during the pandemic’s economic impact. It introduced the PPP for small businesses through loans administered by the Small Business Administration (SBA). Additionally, federal programs expanded unemployment benefit eligibility due to the pandemic’s challenges.
In early 2021, Congress initiated the ERA program to assist low-income households with rent and utility costs during COVID-19.
This case is under investigation by the U.S. Department of Labor Office of Inspector General and the Department of Homeland Security Office of Inspector General. Assistant United States Attorney Nicole Cassidy is prosecuting the case.
Reports on attempted fraud involving COVID-19 can be made via the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or through their web complaint form.
Case Number: 25-cr-00127-WJM
