Federal prosecutors are going after a Texas man accused of trying to defraud banks out of COVID-19 relief funds.
According to prosecutors, 32-year-old Samuel Yates is accused of wire fraud, bank fraud and making false statements to a financial institution and the Small Business Administration.
Prosecutors say he filed for $5 million in forgivable loans under the CARES Act and claimed to have a business with 400 employees.
Prosecutors allege he didn't really operate that business and that he used an online random name generator to come up with the names of his supposed employees.
Yates lives in the east Texas town of Maud near Texarkana.
