'He Went To Jared': Hazel Crest Man Used $550K From COVID Loans On Jewelry, Luxury Items

CHICAGO — A federal judge has sentenced a Hazel Crest man to nearly six years in prison for fraudulently obtaining more than $550,000 in small business loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Attorney's Office said Thursday.

In 2020 and 2021, Christopher Scott participated in fraud related to the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan program (EIDL)—two sources of relief under the CARES Act, the prosecutor said.

Scott, 46, pleaded guilty earlier this year to a federal wire fraud charge.

Scott submitted to lenders and the U.S. Small Business Administration numerous applications on behalf of non-existent or non-operating businesses. The applications contained false statements and misrepresentations concerning, among other things, the purported businesses’ revenues, payrolls, and operating expenses, the U.S. Attorney's Office said.

The fraud scheme caused lenders and the SBA to disburse more than $550,000 in loans to Scott.

Scott and others used the loan proceeds on personal expenses, including numerous purchases at luxury retailers Tiffany & Co., Jared Jewelers, Von Maur, Nordstrom and Saks Fifth Avenue.

On Wednesday, U.S. District Judge Elaine E. Bucklo sentenced Scott to five years and ten months in federal prison and ordered him to pay $567,333 in restitution.