A federal jury in Rapid City has convicted Casey Pedersen, age 41, of Rapid City on two counts of False Statement following a two-day jury trial in federal district court.
The charges carry a maximum penalty of five years in custody and/or a $250,000 fine, three years of supervised release, and a $100 special assessment to the Federal Crime Victims Fund.
In February of 2021, Pedersen submitted a Second Draw Paycheck Protection Program loan application to obtain funds for one of his businesses. In the application, Pedersen falsely indicated he did not own any other businesses and falsely reported that he had suffered a 25% reduction in gross receipts as a result of the COVID 19 pandemic. As a result of the false statements and representations, Pedersen obtained a Paycheck Protection Program loan, which was later forgiven by the U.S. Small Business Administration. Evidence at trial established that Pedersen owned three additional businesses and that his businesses did not suffer any economic loss.
This case was investigated by Health and Human Services-Office of Inspector General and the FBI. Assistant U.S. Attorney Benjamin Patterson prosecuted the case.
A presentence investigation was ordered and a sentencing date will be set. The defendant was released pending sentencing.
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