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Bal Harbour developer to go to prison for COVID-19 loan fraud

Prison bars background (WJXT)

MIAMI ā€“ A developer will trade the posh surrounds of Bal Harbour for federal prison following his conviction on multiple COVID-19 loan fraud charges, according to federal prosecutors.

Of the 14 charges he was facing, a jury convicted Eric Dean Sheppard of four counts of wire fraud and two counts of aggravated identity theft on Friday, according to a Tuesday news release from the U.S. Department of Justice.

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Sheppard, 55, filed fraudulent loan applications under the Paycheck Protection Program and the Economic Injury Disaster Loan programs, federal prosecutors said, and used fabricated tax documents and a forged accountantā€™s signature to obtain them.

He received almost $900,000 in fraudulent relief loans, according to the DOJ.

The WSG Development owner will spend a mandatory minimum of two years in prison on the aggravated identity theft charges, which must run consecutively to the up to 80 years he faces for the wire fraud charges, prosecutors said.

He also will have to pay restitution and forfeit the loan proceeds.

Sheppard is scheduled to be sentenced on April 5.


About the Author
Chris Gothner headshot

Chris Gothner joined the Local 10 News team in 2022 as a Digital Journalist.

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