MARYLAND (WBFF) — A former U.S. Agency for International Development (USAID) employee pled guilty in federal court on Wednesday, to charges from a CARES Act scheme through which he illegally obtained more than $176,000, according to a Maryland U.S. Attorney’s Office press release.
Simeon Bakare, 55, of Waldorf, previously worked on information technology matters for USAID.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, a federal law enacted in March 2020, provided emergency financial assistance to Americans suffering from the economic effects of the pandemic, including loans to small businesses. The Paycheck Protection Program (PPP), administered through the Small Business Administration (SBA), along with the Economic Injury Disaster Loan (EIDL), helped businesses meet their financial obligations.
From April 2020 until November 2021, Bakare knowingly and willfully engaged in a scheme to defraud the SBA, according to the guilty plea. Bakare admitted he submitted multiple fraudulent PPP and EIDL applications and caused the deposits of EIDL and PPP benefits into bank accounts he controlled.
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The businesses Bakare listed on the applications did not have significant employees, office space, revenues, costs of goods sold, or business operations. Bakare admitted he used the proceeds for improper personal purposes, such as grocery costs, car and housing payments.
Bakare faces a maximum sentence of 20 years in federal prison for wire fraud.
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Sentencing is set for Sept. 3, at 9:30 a.m.
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