A Memphis, Tennessee, trucking company owner has been sentenced to federal prison after pleading guilty to wire fraud in connection to a scheme to defraud the pandemic-era Paycheck Protection Program.
Herman Shaw, 44, the owner of Freight Masters Inc., pleaded guilty in August and was ordered to pay $782,212 in restitution. He was also sentenced to 30 months in federal prison.
In June 2020, Shaw and a person identified only as L.E. in court documents worked together to submit a false PPP loan application. False information in the application included a fake IRS document regarding the company’s payroll and employees, court documents say.
