Wilmington man gets 70 months in prison in connection with stolen check, COVID-19 schemes

From June 2019 – October 2021, he defrauded individuals and banks out of approximately $345,250 through this scheme, the U.S. Delaware U.S. Attorney's office stated.

From  June 2020 – April 2021, Speights submitted six fraudulent applications for loans available under the Paycheck Protection Program and Economic Injury Disaster Loan Program—two COVID-19 relief programs designed to aid small business owners during the pandemic. 

Each loan claimed that Speights or an associate owned a small business. Prosecutors state4d that Speights defrauded the Small Business Administration out of about  $560,000.  Speights  moved  proceeds between bank accounts he controlled in an effort to conceal their existence.

A federal grand jury in the District of Delaware returned an Indictment against Speights in September 2023. 

Speights was released on his own recognizance but was required to remain in the area and stay in contact with an assigned probation officer.  Instead, Speights fled for approximately eight months, from May 2024 – January 2025. 

He was found  in an apartment in New Jersey, where law enforcement found additional checks, bank cards, and identifying information belonging to third parties.  The checks found in Speights’ apartment totaled $53,760.

Law enforcement seized over 40 pieces of jewelry from Speights’ home with a total appraised value of approximately $477,705, including an 18-karat gold, diamond, and sapphire ring valued at $75,000 and a 1-karat gold bracelet valued at $102,900.  Law enforcement also seized 11 fur coats, shawls, and hats from Speights’ apartment with a total appraised value of  $56,250.

Yury Kruty, Special Agent in Charge, IRS-Criminal Investigation stated, "This is an important victory for the American public.  Not only is a criminal going to jail for his crimes, but the government has seized a significant portion of the illegal proceeds through asset forfeiture. We will continue to work with our law enforcement partners and investigate criminals who engage in such brazen and fraudulent conduct.

“Protecting the mail from theft is a core mission of the Postal Inspection Service,” said Christopher Nielsen, Inspector in Charge of the Philadelphia Division. “By perpetrating mail theft, Mr. Speights harmed real people who were using the mail to pay their bills.  By filing false claims on government benefit programs, Mr. Speights deprived others of needed assistance.  I want to recognize the hard work of the Inspectors and the Special Agents from the IRS who worked this investigation.  I also want to acknowledge the efforts of the United States Attorney’s Office in Delaware for their continued support in investigating and prosecuting these cases." 

The IRS–Criminal Investigation and U.S. Postal Inspection Service investigated the case. Delaware Assistant U.S. Attorney Carly A. Hudson prosecuted the case.