Source: United States Department of Justice (National Center for Disaster Fraud)
MIAMI – The owner of Theophin Consulting LLC has pleaded guilty to wire fraud for fraudulently obtaining Covid-19 relief loan proceeds under the Paycheck Protection Program (“PPP”) program.
Rudy Theophin, 41, of Miramar, Fla., was the president and sole owner of Theophin Consulting LLC. In June 2020, Theophin submitted an online PPP loan application for $123,675 through the U.S. Small Business Administration (SBA) to provide relief for the economic effect caused by the Covid-19 pandemic. The loan application and supporting documentation falsely stated the number of employees and the average monthly payroll for Theophin Consulting. Once approved, Theophin transferred a portion of the funds to another person, another portion to an investment account in his name, and he used the remaining funds toward the purchase of a condominium. Theophin ran for mayor of Miramar in 2023.
A sentencing hearing is set on July 15 in Fort Lauderdale before U.S. District Court Judge Rodney Smith. Theophin faces up to 20 years in prison.
U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and Special Agent in Charge Emmanuel Gomez of the IRS Criminal Investigation (IRS-CI), Miami Field Office, made the announcement.
IRS-CI investigated the case. Assistant U.S. Attorney Christopher Killoran is prosecuting the case. Assistant U.S. Attorney Jorge Delgado is handling asset forfeiture.
Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or at http://pacer.flsd.uscourts.gov, under case number 24-cr-60233.
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