Wilmington Man Convicted for COVID-19 Loan Fraud Scheme
A Wilmington man, Crandall Speights, has been convicted for a large-scale fraud scheme involving COVID-19 loans and stolen checks. The 45-year-old faces more than five years in prison.
Speights' scheme spanned from 2019 to 2021, during which he stole checks from area mailboxes, altered them, and cashed them, amounting to $345,000. Additionally, he obtained $560,000 in fraudulent federal loans by submitting false applications to the Small Business Administration. The stolen money was used to fund a lavish lifestyle, including gambling, purchasing furs, and jewelry, totaling approximately $533,955, which was seized from his home.
Speights' criminal history is extensive, with fourteen previous convictions for various offenses such as burglarizing vehicles, credit card fraud, identity theft, and forgery. His actions have left about eight residents or small businesses unable to recover the stolen money.
Crandall Speights' conviction sends a strong message against fraudulent activities, particularly during crises like the COVID-19 pandemic. His sentence will ensure justice for the victims and deter potential offenders.
