Blue Springs woman could face up to 20 years in prison for fraudulent PPP loan financing

KANSAS CITY, Mo. (KCTV) – A woman pleaded guilty today after participating in a conspiracy to obtain over $220,000 in fraudulent Paycheck Protection Program (PPP) loan funds.

Daisha Sanders, formerly of Blue Springs, Missouri, was charged with one count of conspiracy to commit wire fraud. She admitted to participating in a scheme to submit fraudulent applications for PPP loans from February 2021 to July 2022.

Sanders, 33, prepared 14 fake PPP loan applications that were accepted and numerous others were rejected. Sanders prepared applications for herself and each of her co-conspirators in exchange for payment from the loan proceeds.

The applications either incorrectly stated the existence of a sole proprietorship prior to the pandemic or greatly inflated the revenues of any “businesses” that existed in 2019.

Sanders created fictitious bank records, IRS forms, and other false financial documents to support the false loan applications. The funds were issued to ineligible borrowers, most of which were forgiven, although the funds were not used for the purposes stated in the PPP.

Sanders’ prep fee ranged from $2,000 to $5,000, meaning he made at least $40,832 from the program. Under the terms of today’s agreement, Sanders must withhold exactly that amount to the government. Sanders must also pay restitution to the Small Business Administration.

Sanders is the eighth defendant in the case to plead guilty; Each convicted co-defendant admitted to applying for a PPP loan in the amount of approximately $20,833.

Sanders faces up to 20 years in federal prison without parole. A sentencing hearing will be scheduled at a later date.