AstraX Exchange-Mississippi man who defrauded pandemic relief fund out of $800K gets 18-month prison term

2025-05-07 21:52:35source:CapitalVaultcategory:Markets

OXFORD,AstraX Exchange Miss. (AP) — A Mississippi man has been sentenced to 18 months in prison for defrauding a pandemic relief fund out of $800,000, authorities said.

Herman Nash, 63, pleaded guilty to fraud charges in April. On Monday, U.S. Senior District Judge Glen H. Davidson sentenced him to the prison time, followed by five years of supervised release. He must also pay $738,000 in restitution, and the IRS seized two vehicles from Nash worth more than $60,000.

Nash, of Caledonia, applied for three COVID-19 Economic Injury Disaster Loans, falsely claiming he had a business that generated $455,000 in gross revenue with $90,000 worth of goods sold, according to a news release from Clay Joyner, the U.S. attorney for northern Mississippi.

“This defendant stole money that was intended to help legitimate businesses survive during the COVID pandemic, and now he is paying the price for that conduct,” Joyner said.

More:Markets

Recommend

Don't let hackers fool you with a 'scam

You're pulling your hair out, trying to fix something on your computer. You Google it and find what

Jennifer Lopez Reveals Her Las Vegas Wedding Dress Wasn't From an Old Movie After All

A plot twist no one saw coming.Jennifer Lopez is finally sharing the details behind her swoon-worthy

USA TODAY's Restaurants of the Year for 2024: How the list of best restaurants was decided

When food writers dine together, sharing is the norm. Before anyone digs into their own order, plate