BECKLEY, WV (LOOTPRESS) – A Raleigh County man has been sentenced to prison for stealing more than $2.1 million in COVID-19 relief funds.
Ryan Keith Bailey, 47, of Beaver, was sentenced Tuesday to one year and two months in federal prison, followed by three years of supervised release. He was also ordered to pay $2,134,900 in restitution for theft of government money.
According to court documents, Bailey obtained $2,166,517.40 in loans through the Coronavirus Aid, Relief, and Economic Security (CARES) Act for his business, RKB Inc., and instead converted nearly all of the funds for personal use.
On April 20, 2020, Bailey applied for a $166,517.40 Paycheck Protection Program (PPP) loan, certifying that the money would be used for payroll, mortgage interest, lease, and utility costs.
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