CHARLOTTE, N.C. — A Charlotte man accused of posing as a loan consultant and obtaining over one million dollars in COVID-19 relief funding pleaded guilty to wire fraud and money laundering charges.
Glynn Hubbard, 46, appeared in federal court on Monday to plead guilty to the charges. He faces up to 20 years in prison for the wire fraud charge and up to 10 years in prison for the money laundering charge.
Court documents say Hubbard submitted fraudulent Paycheck Protection Program (PPP) and Economic Injury Relief Disaster Loan (EIDL) applications in 2020 to obtain loans for himself and other businesses.
Prosecutors claim Hubbard submitted false financial information and fake employment data in the applications.
Hubbard promoted himself as a PPP/EIDL consultant during the period, according to court documents. He received over $150,000 for his services while improperly acting as a consultant.
Hubbard received over $570,000 for himself and disbursed over $660,000 to the companies he filed applications for, according to court records.
Prosecutors indicted Hubbard in a federal court in Charlotte in July 2023. Hubbard initially pleaded not guilty before accepting a plea agreement on Monday.
A sentencing date has not been scheduled in Hubbard's case at this time.
WCNC Charlotte is always asking "Where's the money?" If you need help, reach out to WCNC Charlotte by emailing money@wcnc.com.