PORTLAND, Ore.—A Portland man pleaded guilty today for perpetrating a scheme to steal funds intended to help small businesses during the COVID-19 pandemic.

Eric Wade Lysne, 35, pleaded guilty to bank and wire fraud.

According to court documents, in April 2020, Lysne devised and perpetrated a scheme to defraud the Small Business Administration (SBA) and various financial institutions by fraudulently applying for and obtaining Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans using false borrower information. Lysne created fictitious entities, including Paradigm Consulting Groups (Paradigm), on whose behalf he applied for and received the loans.

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