A West Virginia man has admitted accepting more than $41,000 in loans under a federal COVID-19 assistance program for a business that did not exist.
Malik Breckenridge of Charleston pleaded guilty Thursday to wire fraud in federal court.
Breckenridge obtained two paycheck protection loans that were guaranteed by the Small Business Administration under the CARES Act.
Court records show he admitted the business was not registered in West Virginia, and falsely stated that the business was established in 2014 and was operating on February 2020 at the start of the pandemic.
Breckenridge faces up to 20 years in prison. His sentencing is set for Nov. 17.