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St Paul (KROC AM News) - A Minnesota man is accused of ripping off two of the federal government’s pandemic relief programs out of more than half a million dollars.

Charged in federal court in St Paul Wednesday was 72-year-old Harold Kaeding of Eden Prairie.

The US Attorney’s office says Kaeding applied for more than $2-million in loans through the Paycheck Protection Program and the Economic Injury Disaster Loan Program last year. Investigators learned the companies he listed in the applications filed no tax returns and did not report the payment of wages to a single employee during 2019 and 2020. Kaeding also submitted false and fraudulent applications to various lenders in order to get the funds.

It was determined Kaeding received nearly $660,000 in fraud proceeds for his personal use, including home mortgage payments and wire transfers to family and friends.

Kaeding then fled to Colombia but was deported last week and is now in custody.

US Attorney's Office

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