The 75-year-old is accused of spending the Paycheck Protection Program money on himself.
ST PAUL, Minn — An Eden Prairie man was sentenced to seven years behind bars for Covid relief fraud, with officials saying he applied for more than $2.1 million in funds which he spent on himself.
U.S. Attorney Andrew M. Luger announced in a press release Harold Bennie Kaeding, 75, of Eden Prairie was sentenced to more than seven years in federal prison. He was convicted of wire fraud, aggravated identity theft, and money laundering.
In the first three months of the Covid-19 pandemic, Luger said Kaeding used the name of close family members to submit loan applications for different corporate entities, that were either defunct or not in existence when the pandemic began.
Kaeding was accused of fabricating tax documents, manufacturing bank statements, and submitting records to ensure the applications appeared legitimate. He initially received $1,642,670, …