A man from St. Louis County on Monday admitted committing disability fraud and pandemic loan fraud totaling $637,000.
Preston Randall, 62, pleaded guilty in U.S. District Court in St. Louis to five counts of wire fraud, two counts of theft of government property and one count of concealment from the U.S. Social Security Administration.
Randall admitted applying to the U.S. Small Business Administration for a series of Economic Injury Disaster Loans (EIDL) for various businesses using various names. The EIDL program was intended to support small businesses that had been negatively affected by the pandemic. On the applications, Randall falsely inflated revenue and workforce figures to get more money. Randall sought a total of $8,506,000 in loans and received $620,000.
Randall also fraudulently obtained $17,906 in Social Security disability benefits. On his application for benefits, Randall hid the fraudulent EIDL income, his ownership of five vehicles and the ownership of a $500,000 home near Florissant. Randall quitclaimed the home to a shell company to hide the home’s ownership.
Randall was indicted in May of 2024 and jailed later that year after he was accused of threatening a potential witness and placing utility bills in that man’s name without his consent.
The case was investigated by the Social Security Administration Office of Inspector General. Special Assistant U.S. Attorney Jolene Taaffe is prosecuting the case.
