Charleston, WV (WOAY): A Charleston man pleaded guilty to wire fraud in federal court on Thursday.
Malik Breckenridge admitted that he accepted over $40,000 in loans under a federal COVID-19 assistance program for a business that did not exist. Breckenridge reportedly received two paycheck protection loans from the Small Business Administration under the CARES Act.
Court records revealed the defendant confirmed the business is not registered in West Virginia. Also, Breckenridge claimed that the company was established in 2014 and operational in February 2020 at the beginning of the COVID-19 pandemic. Breckenridge will be sentenced on November 17 and will face up to 20 years in prison.