A woman from O’Fallon, Missouri, admitted submitting a series of fraudulent applications seeking pandemic loans totaling more than $1.6 million. Dearika L. Binion, now 36, successfully obtained two loans totaling $75,600. Binion pleaded guilty in U.S. District Court in St. Louis on Wednesday to three counts of bank fraud.
Binion admitted to the fraudulent activities, saying, “I submitted a false and fraudulent Economic Injury Disaster Loan (EIDL) application to the Small Business Administration on behalf of Domi More, a company I registered in 2014.”
She continued her deception by submitting another fraudulent EIDL application for MTRLSTC LLC, mentioning, “I lied about employees, gross revenues, and cost of goods sold.”
Binion’s efforts to secure loans for Bella Skin Spa LLC were also revealed as she made multiple attempts, stating, “I submitted a fraudulent EIDL loan application seeking $59,500 for Bella Skin Spa, but that loan was not approved. I altered information and tried again for $264,800, but was unsuccessful.”
Following these incidents, Binion made a final attempt for a significant loan, admitting, “On Feb. 4, 2021, I submitted a fraudulent EIDL loan application seeking $1.2 million, which was not approved.”
Binion is set to be sentenced on July 10, with each bank fraud charge carrying a maximum penalty of up to 30 years in prison, a $1 million fine, or both.
The case was investigated by multiple agencies, as highlighted by the statement, “The case was investigated by the FBI, the Drug Enforcement Administration, the Internal Revenue Service, and the St. Louis County Police Department.”
Furthermore, the prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) Strike Force Initiative, showcasing collaboration among various agencies to combat significant criminal activities.
The prosecution is led by the Office of the United States Attorney for the Eastern District of Missouri, with the involvement of multiple law enforcement agencies in the St. Louis Gateway OCDETF Strike Force.
