A Chicago man has been sentenced to 18 months in federal prison for his role in a scheme to fraudulently obtain nearly $2 million in small business loans through Covid-19 relief programs.
According to court documents, Samuel W. Jackson submitted multiple applications to lenders and the U.S. Small Business Administration (SBA) in 2020 under the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan program (EIDL), both established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The applications included false information about employment numbers, payroll costs, and operating expenses for businesses he controlled.
Authorities reported that Jackson and others used more than $500,000 of the loan proceeds on luxury vehicles, nearly $230,000 at restaurants, bars, and entertainment venues, and $116,000 on rent. The fraudulent activity resulted in losses exceeding $1.9 million for lenders and the SBA.
Jackson pleaded guilty earlier this year to wire fraud and money laundering charges. On August 20, 2025, U.S. District Judge Matthew F. Kennelly handed down an 18-month prison sentence and ordered Jackson to pay approximately $1.9 million in restitution.
The sentencing was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, along with Douglas S. DePodesta, Special Agent-in-Charge of the FBI’s Chicago Field Office. The SBA Office of Inspector General also provided significant assistance during the investigation.
“Defendant was the hub of a fraudulent scheme,” Assistant U.S. Attorneys Christopher K. Veatch and Branka Cimesa argued in the government’s sentencing memorandum. “Defendant abused a federal program funded by taxpayer money and designed to help those in need.”
