Cape Girardeau Man Sentenced for Pandemic Loan and Identity Fraud

Cape Girardeau Co., Mo. (KFMO) - A Cape Girardeau man who used stolen identities to fraudulently obtain pandemic relief loans, file fake tax returns, and open bank accounts has been sentenced to federal prison.

U.S. District Judge Stephen N. Limbaugh Jr. on Tuesday sentenced 35-year-old Myles Benjamin Depew to 39 months in prison. The judge also ordered Depew to pay $25,000 in restitution to the United States and $10,728 to the State of Missouri.

According to federal prosecutors, Depew used the identities of multiple victims in a scheme involving Economic Injury Disaster Loans, commonly known as EIDL loans, that were issued during the COVID-19 pandemic.

Court records show Depew used one victim’s identity in June 2020 to fraudulently apply for and receive an $11,000 EIDL loan. The following month, he allegedly used another person’s name to fraudulently secure an additional $14,000 EIDL loan.

Investigators say Depew also used a third victim’s identity to open a checking account with a West Virginia-based bank. That account was later used to receive fraudulent Missouri state income tax refunds.

Authorities say Depew prepared two fraudulent Missouri tax returns, resulting in refunds of $2,060 in February 2022 and $8,668 in April 2023 being deposited into the account.

During an interview with agents from the U.S. Treasury Inspector General for Tax Administration, Depew reportedly admitted spending approximately $40,000 on casino gambling, $5,000 on food, and another $5,000 on methamphetamine.

Federal investigators say Depew used his job as a tax preparer to gain access to victims’ personal information, including names, birthdates, and Social Security numbers.

Depew pleaded guilty in February in U.S. District Court in Cape Girardeau to three counts of wire fraud and one count of aggravated identity theft.