By: Richard L. Smith
A Delaware resident has admitted to playing a key role in a scheme to fraudulently secure more than $1 million in federal pandemic relief loans, according to information released by the U.S. Department of Justice.
Adrienne Ponzo, 50, of Bear, Delaware, pleaded guilty before U.S. District Judge Karen M. Williams to one count of conspiracy to commit wire fraud in connection with a plan to obtain Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) funds under false pretenses.
According to court records and statements made during proceedings, Ponzo conspired with others to exploit emergency financial relief made available through the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Enacted in March 2020, the CARES Act was designed to provide financial support to small businesses struggling due to the COVID-19 pandemic.
Through programs like the PPP and EIDL, qualifying businesses could receive substantial, and often forgivable, loans to help cover payroll and other essential expenses.
Authorities said Ponzo worked with individuals who owned companies that had little to no legitimate business activity.
Her co-conspirators referred these individuals to her, and she then submitted fraudulent loan applications on their behalf.
As part of the scheme, Ponzo prepared and filed falsified bank statements and tax returns to support the fabricated applications.
In total, 14 fraudulent applications were submitted, generating nearly $1.5 million in loan proceeds.
Ponzo reportedly received a portion of the funds in exchange for her role.
The wire fraud conspiracy charge carries a maximum penalty of 20 years in prison and a fine of up to $250,000 or double the amount of financial loss or gain involved in the offense.
Sentencing for Ponzo is scheduled for August 26, 2025.