Eastern NC Man Sentenced to Over Four Years for Role in $1 Million Covid Fraud Scheme

<_w3a_listitem listvalue="RALEIGH" datavalue="RALEIGH"><_w3a_listitem listvalue="GREENVILLE" datavalue="GREENVILLE"><_w3a_listitem listvalue="NEW BERN" datavalue="NEW BERN"><_w3a_listitem listvalue="WILMINGTON" datavalue="WILMINGTON"><_w3a_listitem listvalue="ELIZABETH CITY" datavalue="ELIZABETH CITY">NEW BERN, N.C. - A Snow Hill man was sentenced to 50 months in prison for Conspiracy to Commit Wire Fraud related to Covid-19 loans. In March of 2024, TYREEK RASHEED EXUM, 26, was charged in a multi-count indictment alleging various offenses related to a Covid fraud scheme. On September 24, 2024, Exum pled guilty to Conspiracy to Commit Wire Fraud. Co-defendant Anthony Wandland, Jr., of Chicago, Illinois, pled guilty to the same charge on November 13, 2024.

Exum and Wandland conspired to use over 20 stolen identities and the identities of co-conspirators to apply for Economic Injury Disaster Loans (EIDL) and Pandemic Unemployment Assistance benefits. The indictment charged that Wandland provided Exum with the stolen identities, and, in exchange, Exum gave Wandland a percentage of the proceeds. Each loan application submitted by Exum contained false statements, misrepresentations, and omissions related to income, employment, and claimed business entities. Exum signed various financial documents, including loan and security agreements, in the names of those stolen identities and then had the loan proceeds deposited into his personal bank account, nominee bank accounts, bank accounts of family and friends, and into accounts in the names of stolen identities. Exum exercised control over these accounts by obtaining bank debit cards and by causing nominees to transfer the fraud proceeds to other accounts controlled by him via various digital mediums such as PayPal and CashApp. Exum also withdrew the cash at multiple ATMs. In total, the indictment alleged Exum received nearly $1 million in fraudulent loan proceeds. The Court ordered Exuma to pay more than $620,000 in restitution.

Daniel P. Bubar, Acting U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by <_w3a_listitem listvalue="Choose an item."><_w3a_listitem listvalue="U.S. District Judge Terrence W. Boyle" datavalue="U.S. District Judge Terrence W. Boyle"><_w3a_listitem listvalue="U.S. District Judge Louise W. Flanagan" datavalue="U.S. District Judge Louise W. Flanagan"><_w3a_listitem listvalue="U.S. District Judge James C. Dever III" datavalue="U.S. District Judge James C. Dever III"><_w3a_listitem listvalue="Chief U.S. District Judge Richard E. Myers II" datavalue="Chief U.S. District Judge Richard E. Myers II"><_w3a_listitem listvalue="Senior U.S. District Judge W. Earl Britt" datavalue="Senior U.S. District Judge W. Earl Britt"><_w3a_listitem listvalue="Senior U.S. District Judge Malcolm J. Howard" datavalue="Senior U.S. District Judge Malcolm J. Howard">U.S. District Judge Louise W. Flanagan. IRS Criminal Investigation investigated the case and Special Assistant U.S. Attorney Lisa Labresh prosecuted the case.

Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case Nos. 5:21CR178-M and 5:23CR388-M.

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