Fraudster Steals $15,900,000 From US Taxpayers, Splurges Funds on Ferraris, Mansions and Jewelry

A man from California pleaded guilty to stealing nearly $16 million from US taxpayers during a multiyear COVID-19 fraud scheme.

In a new press release, the U.S. Department of Justice (DOJ) says that 45-year-old Emanuel Tucker submitted fraudulent applications seeking relief loans during the COVID-19 pandemic, swindling $15.9 million from the government and using the funds to purchase luxury items, such as expensive vehicles, real estate and jewelry.

Authorities say that between April 2020 and April 2022, Tucker filed “several” fraudulent applications for the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) programs – which had numerous discrepancies and misrepresentations – on behalf of firms he either owned or controlled, netting him millions of dollars.

Some of the items he purchased with the stolen money include a Cadillac Escalade, a Bentley Continental, a Ferrari F8 Tributo, multimillion-dollar houses, and diamond-laced jewelry.

As stated by Assistant Director Jose A. Perez of the FBI Criminal Investigative Division, in the press release,

“Exploiting pandemic relief meant for struggling Americans is not only morally reprehensible, it’s a betrayal of public trust. This defendant orchestrated a multimillion-dollar fraud scheme, weaponizing federal COVID-19 assistance programs for his personal gain. The FBI will always work to make sure those who steal from programs designed to help others are held accountable.”

The defendant pleaded guilty to conspiracy to commit wire fraud and bank fraud. His sentencing is currently scheduled for December 4th, and he faces a penalty of up to two decades behind bars.