Aug. 12 (UPI) -- An ex-financial executive is likely to spend years behind bars over wire fraud charges in an alleged pandemic-era financial scheme to defraud the federal government's small business loan program.

The U.S. Department of Justice said Monday that Nathan Reis, now of Rio Grande in Puerto Rico by way of Arizona, pleaded guilty in Texas to one count of conspiracy to commit wire fraud for his role as company chief at Scottsdale-based lender Blueacorn.

The plea was tied to attempts to fraudulently obtain relief money via the U.S. Small Business Administration's Paycheck Protection Program during the COVID-19 pandemic.

"This defendant had the opportunity to help small businesses overcome tremendous financial hardships during a time of national crisis but instead exploited the

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