A Milwaukee resident who fraudulently obtained COVID relief money meant for struggling small businesses was sentenced Wednesday to 36 months in prison with two years of supervised release, and ordered to repay $397,500.
Stephen Smith, 42, with the aid of his brother Thomas, filed a Paycheck Protection Program loan application last May for his defunct LLC, CFA Auto Transport. CFA didn't have any real business or employees, so the Smiths faked payroll employment numbers and tax records. Stephen Smith was also involved in at least two other PPP fraud cases, though how many and to what extent is unclear.