Bucyrus Business Owner Pleads Guilty to Role in Obtaining Nearly $900,000 in Pandemic Funds

CLEVELAND - A 56-year-old man has pleaded guilty in federal court to devising a scheme to obtain pandemic government stimulus funds meant to assist small businesses, which he instead used for his personal benefit.

Jeffrey Skinner, of Bucyrus, Ohio, pleaded guilty to five counts of Wire Fraud and to one count of Engaging in Monetary Transactions in Criminally Derived Property.

According to court documents, Skinner was the owner of several businesses and the creator of a nonprofit entity. He also served as the accountant and treasurer for his church, where he was also a board member with signature authority over its financial accounts. The scheme to defraud occurred from about March 2020 to April 2024, when the defendant made false representations on applications to be approved for Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) loans. Both loan programs were administered through the Small Business Administration, which was authorized to provide emergency financial assistance to qualifying businesses during the COVID-19 pandemic.

After Skinner received the funds due to the falsely approved loans, he transferred the money to other accounts under his control and from there he paid off his personal credit cards and bought stocks and cryptocurrency. He also used his nonprofit foundation to further conceal the misuse of funds, by transferring loan proceeds to that bank account which he used to purchase more stock and cryptocurrency and to make student loan payments as well. Skinner then used his access as a board member and treasurer of his church, to issue checks to make small payments toward the EIDL loan without the authorization to do so. He later submitted additional false information on an application to apply for loan forgiveness. In total, Skinner sought over $1.2 million in PPP and EIDL loans. Of that amount, he fraudulently received more than $890,000.

Skinner faces up to 20 years in prison per Wire Fraud count and up to 10 years in prison for the offense of Engaging in Monetary Transactions in Criminally Derived Property. Sentencing is scheduled for Feb. 24, 2027. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

This investigation was conducted by the IRS-Criminal Investigation Cleveland Office.

Assistant United States Attorneys Samuel Lioi and Elliot Morrison led the prosecution for the Northern District of Ohio.

On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division. The core mission of the Fraud Division is to zealously investigate and prosecute those who steal or fraudulently misuse taxpayer dollars. Department of Justice efforts to combat fraud support President Trump's Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.

To report fraud, visit justice.gov/action-center/report-crime-or-submit-complaint.