Home / Crime and Justice / Joplin Man Accused of $390K Federal Loan Fraud
Joplin Man Accused of $390K Federal Loan Fraud
13 Sep
Summary
- A Joplin man faces federal wire fraud charges for allegedly stealing $392,834.
- The loans were part of federal CARES Act programs for businesses.
- Allegations include false employment claims and misuse of funds.
Dylan Gregory Neely, a 42-year-old resident of Joplin, is facing three federal felony wire fraud charges. These charges, unsealed on Thursday, relate to an alleged scheme to defraud the U.S. government of more than $390,000 in federal loans between July 1, 2020, and May 30, 2023.
According to the indictment, Neely applied for three loans backed by the U.S. Small Business Administration (SBA) between July 2020 and April 2021, totaling $392,834. These loans were part of programs established under the CARES Act, intended to provide economic assistance during the COVID-19 pandemic.
The indictment details that Neely purportedly owned two businesses, Neely Mechanical Services and Neely Mechanical, for which he applied for the loans. Prosecutors allege that Neely falsely claimed employment numbers for these businesses and subsequently defaulted on all three loans.
Federal prosecutors contend that the SBA would not have approved the loans if Neely's representations had been truthful. Furthermore, it is alleged that Neely misused the Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) funds, diverting them for personal expenses rather than authorized business uses under the CARES Act. The government is seeking forfeiture of all assets derived from these alleged fraudulent loans.
