Miami, FL – Rudy Theophin, the owner of Theophin Consulting LLC in Miramar, has admitted to wire fraud charges related to the misuse of COVID-19 relief funds obtained through the Paycheck Protection Program (PPP).
In June 2020, Theophin, 41, applied for a PPP loan amounting to $123,675 via the U.S. Small Business Administration (SBA) to mitigate the economic impact of the pandemic. However, the loan application included falsified details regarding the number of employees and the average monthly payroll at Theophin Consulting.
Upon receiving the funds, Theophin diverted a portion to another individual, invested some in an account under his name, and used the rest to purchase a condominium. Notably, Theophin was a candidate in the 2023 mayoral race for the city of Miramar.
Theophin is scheduled to be sentenced on July 15 in Fort Lauderdale by U.S. District Court Judge Rodney Smith and faces a potential prison sentence of up to 20 years.
The announcement was made by U.S. Attorney Hayden P. O’Byrne for the Southern District of Florida and IRS Criminal Investigation Special Agent in Charge Emmanuel Gomez from the Miami Field Office. The case was investigated by the IRS-CI, with Assistant U.S. Attorney Christopher Killoran leading the prosecution and Assistant U.S. Attorney Jorge Delgado handling asset forfeiture.
