NE Texas Man Charged On Federal Fraud Violations

Authorities charge a Northeast Texas in federal court with defrauding the U.S. Small Business Administration. Samuel Yates, 32, of Maud, allegedly filed bank loan applications, fraudulently seeking more than $5 million in forgivable loans guaranteed by the Small Business Administration through the Paycheck Protection Program under the CARES Act. He allegedly claimed to have hundreds of employees earning wages when in fact, he had none.