Six more charged in PPP loan fraud case in U.S, Three arrested

Noman Sabit: Six St. Louis-area residents are now facing federal charges in an $8.3 million pandemic fraud scheme.Three of them were arrested last Friday.

A federal indictment accuses the group of submitting at least 40 fraudulent applications between March 2020 and December 2024 for Paycheck Protection Program Loans and Economic Injury Disaster Loans. These loans were intended to support small businesses and their workers during the COVID-19 pandemic. All told, the group reportedly yielded at least $8,387,593.

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According to the U.S. Department of Justice, the following individuals have been charged:

Raymond Porter Jr., 64, of St. Louis

15 counts of wire fraud

8 counts of aggravated identity theft

4 counts of money laundering

1 count of conspiracy to commit wire fraud

David Holmon, 54, of Olivette

10 counts of wire fraud

5 counts of aggravated identity theft

2 counts of money laundering

1 count of conspiracy to commit wire fraud

Monica Butler, 59, of St. Louis

7 counts of money laundering

4 counts of wire fraud

1 count of conspiracy to commit wire fraud

Dana Kelly, 47, of St. Louis

3 counts of wire fraud

1 count of money laundering

1 count of conspiracy to commit wire fraud

Alexander Simpson, 39, of St. Louis

3 counts of wire fraud

1 count of money laundering

1 count of conspiracy to commit wire fraud

Latrice Davis, 40, of St. Charles 2 counts of wire fraud

1 count of money laundering

1 count of conspiracy to commit wire fraud

Authorities arrested Porter, Holmon and Davis on Friday.

Investigators say Porter and Holmon, with Davis’s help, prepared and submitted fraudulent PPP and EIDL applications not only for their own businesses, but also other people’s businesses. Porter and Holmon typically would receive 10-20% of any approved loans, which were disguised as payments for equipment or consulting services. They would then pay Davis a portion of those funds.

The indictment alleges that Porter, Holmon and Davis used personal information to impersonate business owners during the loan application process, created fake websites and business email addresses, created fake financial documents and used false or inflated financial and payroll figures. The three also directed business owners to open bank accounts to receive funds and concealed true ownership information from lenders. The indictment claims Porter and Holmon directly received more than $1.4 million through loans, plus an additional $900,000 through preparer fees, while also securing large sums for Butler, Kelly and Sampson through fraudulent loan applications.

Investigators say six accused individuals used money for personal expenses, including vehicles, debt payments, home renovations and luxury items, instead of legitimate business purchases.

“These programs were meant to provide economic stability to small businesses during the COVID-19 pandemic,” said St. Louis Field Office Special Agent in Charge William Steenson. “When someone uses fraudulent means to gain access to government funds they’re not entitled to, we take that very seriously and will investigate the allegations to the fullest extent to bring the fraudsters to justice.”

The FBI, IRS Criminal Investigations and the U.S. Department of Health and Human Services Office of Inspector General have all contributed to the broader investigation.

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