CATAWBA COUNTY, N.C. — A local man is in federal custody after being accused of making up a fake company to get a Paycheck Protection Program (PPP) loan and COVID-19 relief loans.
According to the federal indictment, between June 2020 and March 2020, Spencer Denard Rickerson, 35, of Claremont, used false information to receive more than $74,200 in fraudulent funds that were intended to help businesses affected by the pandemic.
In addition to the fraud charges, Rickerson is accused of robbing a bank on Mar. 1, 2021.
Police gave Channel 9 a surveillance picture that they said showed Rickerson robbing a BB&T Bank in downtown Newton.
The indictment says Rickerson used the money from the robbery and the fraudulent loans to pay bills and buy cryptocurrency.
Rickerson faces up to 45 years in prison and half a million dollars in fines if he is convicted.
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