Eden Prairie man accused of fraudulently applying for more than $2M in COVID-19 relief funds faces federal charges
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[KSTP]
An Eden Prairie man is facing federal charges after he fraudulently applied for more than $2 million in COVID-19 relief funds and fled the country, according to the U.S. Attorney’s Office.
Acting U.S. Attorney Charles Kovats said from April through December 2020, Harold Kaeding, 72, applied for nearly $2.2 million in loans through the Paycheck Protection Program using the names of his family members. He applied for the loans using the names of four Minnesota businesses that did not file tax returns or report the payment of wages to any employees in 2019 or 2020.
The loan applications included phony supporting records and false statements related to the number of employees, payroll expenses and the intended use of the loans, the U.S. Attorney’s Office said. Kaeding received a total of $658,490 from these fraudulent applications, which he transferred to a personal bank account and used for personal spending and wire transfers to family and friends.
Kaeding eventually fled to Colombia but was deported on Nov. 12. He was arrested in Miami, Florida, on Nov. 14. He is charged with one count each of wire fraud and money laundering.
Kaeding made his first court appearance Wednesday in a Florida U.S. District Court.