ST. LOUIS, Mo. (First Alert 4) — A former professional basketball player has pleaded guilty to loan fraud related to COVID-19 economic relief.
Lorenzo Gordon, 41, of Chesterfield, Missouri, pleaded guilty to one felony count of theft of government money.
According to court documents, Gordon admitted to fraudulently applying for two loans from the Paycheck Protection Program (PPP) and three loans from the Economic Injury Disaster Loan Program (EIDL). Both loan types were meant to help businesses and their employees during the COVID-19 pandemic. In the application for the loan programs, there was false information about three companies that applied for the loans: Logo Fitness LLC, Elite 50 Basketball Training LLC and Elite Health and Fitness Company LLC.
According to court documents, Gordon received $107,074 in PPP loans and $165,700 in EIDL loans and advances.
The admission came as a part of Gordon’s plea deal.
Gordon is scheduled to be sentenced on January 9, 2025.
The theft charge is punishable by up to 10 years in prison, a $250,000 fine, or both.
The Internal Revenue Service and the Social Security Administration Office of Inspector General investigated the case. Assistant U.S. Attorney Diane Klocke is prosecuting the case.
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