A St. Louis man has been sentenced to more than two years in federal prison for fraudulently obtaining over $629,000 through pandemic relief loans. U.S. District Judge Stephen R. Clark handed down a 27-month sentence to Shahron Vaulx, 41, on Wednesday and ordered him to repay the full amount.
According to court documents, Vaulx submitted eight fraudulent Paycheck Protection Program (PPP) loan applications between May 2020 and June 2021 using the names of Fortunnett Financial LLC, SD Incorporation LLC, SV Collections LLC, and SD Marketing LLC. The applications included false information about payroll figures and employee numbers. Vaulx also provided fake tax forms that inflated income claims to secure larger loans.
Once the funds were approved, authorities say Vaulx withdrew cash, transferred money to others, made personal purchases, and paid bills unrelated to business expenses. He later sought loan forgiveness by falsely claiming the funds had been used appropriately.
A sentencing memo stated: “essentially stealing money intended for those struggling with the pandemic.” It added: “The only explanation for (Vaulx’) crime is greed,” noting his substantial positive monthly cash flow and gross monthly income of $25,000 at the time of his offenses.
Judge Clark ordered restitution totaling $629,809.
Special Agent in Charge Travis Gibson of the U.S. Secret Service – St. Louis Field Office commented on the case: “This case highlights the United States Secret Service’s commitment to aggressively target individuals who have taken advantage of federal pandemic programs.”
Vaulx pleaded guilty in January to two counts of wire fraud. The investigation was conducted by the U.S. Secret Service. Assistant U.S. Attorneys Gwen Carroll and Stephen Casey prosecuted the case.
