Show-Me State Times

A St. Louis man has been sentenced to 27 months in prison for fraudulently obtaining more than $629,000 through pandemic relief loans. U.S. District Judge Stephen R. Clark handed down the sentence on Wednesday and ordered Shahron Vaulx, 41, to repay the full amount.

According to court documents, Vaulx submitted eight fraudulent Paycheck Protection Program (PPP) loan applications between May 2020 and June 2021. The applications were made under the names of Fortunnett Financial LLC, SD Incorporation LLC, SV Collections LLC, and SD Marketing LLC. Prosecutors said that these applications included false information about payroll and employee numbers. To support his claims, Vaulx provided fake tax forms with inflated figures.

After receiving the funds, Vaulx used the money for personal expenses such as cash withdrawals, retail purchases, bill payments, and transferring money to others. He later sought loan forgiveness by falsely stating that he had spent the funds on legitimate business expenses.

The sentencing memo noted: “essentially stealing money intended for those struggling with the pandemic.” It also stated: “The only explanation for (Vaulx’) crime is greed,” citing his substantial positive monthly cash flow and gross monthly income of $25,000 at the time of his crimes.

Special Agent in Charge Travis Gibson of the U.S. Secret Service - St. Louis Field Office commented on the case: “This case highlights the United States Secret Service’s commitment to aggressively target individuals who have taken advantage of federal pandemic programs.”

Vaulx pleaded guilty in January to two counts of wire fraud. The U.S. Secret Service conducted the investigation while Assistant U.S. Attorneys Gwen Carroll and Stephen Casey prosecuted.