Damian Williams, the United States Attorney for the Southern District of New York, and Keith A. Bonanno, Special Agent in Charge of the Department of Justice Office of the Inspector General (“DOJ OIG”) Cyber Investigations Office, announced today that an Indictment was filed in Manhattan federal court charging ADEDAYO ILORI and CHRIS RECAMIER for a fraudulent scheme to obtain more than $7 million in Government-guaranteed loans designed to provide relief to small businesses during the COVID-19 pandemic.  In connection with loan applications for relief available from the Paycheck Protection Program (“PPP”) and the Economic Injury Disaster Loan (“EIDL”) Program, ILORI and RECAMIER falsely represented to the Small Business Administration (“SBA”) and private lenders that they operated a number of companies, used stolen identities, and submitted falsified tax documents.  RECAMIER and ILORI are both in custody.

U.S. Attorney Damian Williams said: “As alleged, Adedayo Ilori has made quite a habit of committing loan fraud.  While previously facing similar charges in a separate case involving loan and identity fraud – to which Ilori pled guilty in April of this year – he is once again alleged to have committed similar conduct to defraud the SBA and private lenders in an attempt to steal much-needed COVID-19 financial relief.  Ilori and his co-defendant, Chris Recaimer, now face criminal charges for attempting to steal over $7 million in funds specifically designated to assist small businesses struggling with financial hardships from the worldwide COVID pandemic.”

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