HENDERSON (KTNV) — A Henderson man has been sentenced to prison for a COVID-19 relief fraud and money laundering scheme.
According to the Justice Department, 52-year-old Brandon Casutt submitted several false and fradulent applications to the Small Business Administration and four SBA lenders on behalf of two entities he controlled and was hoping to get more than $5.7 million.
Court documents state that he ultimately received $350,000 in the name of a business called Sky DeSign and $150,000 in the name of a "purported charity" called Skyler's CF Foundation. Investigators said the loan applications stated each organization had "numerous employees, significant payroll expenses, and substantial revenue". However, neither one had employees nor paid any wages.
Court documents state that after Casutt received the money, he laundered it by writing dozens of fake payroll checks to himself, family members, and friends, which were then cashed or deposited. Investigators state that the money was then diverted back to a bank account that Casutt owned. They also state he used the money to buy a house in Henderson.
On Aug. 26, 2020, Casutt pleaded guilty to wire fraud and money laundering. On Thursday, Casutt was sentenced to two years and four months in prison.
