NY Man Cops To $2.2M PPP Fraud, Personal Spending Spree

By Ivan Moreno (October 26, 2021, 2:35 PM EDT) -- A New York man who got $2.2 million in fraudulent Paycheck Protection Program loans and allegedly used the money for personal expenses like luxury hotels, restaurants and $17,000 worth of Uber rides pled guilty to two counts of wire fraud in federal court Monday.

Prosecutors said in charging documents that Marcus Frazier, 48, created several phony businesses with names like "Frazier Consulting," "FPM Strategies" and "Frazier, Pringle & Myers" and applied for at least seven PPP loans from May 2020 to April 2021, seeking a total of more than $6.9 million. Frazier lied about payroll expenses and the number of employees...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!