Casino Owner Andy Sanborn Charged with Misusing Over $250,000 of CARES Act Funds

Casino Owner Andy Sanborn Charged with Misusing Over $250,000 of CARES Act Funds

CONCORD - Anthony Sanborn, a/k/a Andy Sanborn, has been charged by information with one count of Theft of Government Funds, U.S. Attorney Erin Creegan announces. A plea hearing will be scheduled by a federal district court judge.

According to court documents, Sanborn owned and operated Win Win Win, a company that did business as Concord Casino. Sanborn applied for and obtained $844,000 in Economic Injury Disaster Loan funding from the Small Business Administration. In applying for the loans, Sanborn certified that he would use the loan proceeds solely as working capital for Win Win Win. However, Sanborn misused $255,232.72 of the funds on personal expenditures. For example, on January 18, 2022, Sanborn used $48,750 of EIDL funds to purchase a 2006 Porsche Cayman. This action is part of the Trump Administration's Task Force to Eliminate Fraud.

The charge of Theft of Government Funds carries a sentence of up to 10 years in prison and a fine of up to $250,000 or twice the gross gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.

The details contained in the charging documents are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

The FBI, IRS Criminal Investigations, and U.S. Postal Inspection Service are leading the investigation. Assistant U.S. Attorney Alexander S. Chen is prosecuting the case.

On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division ('Fraud Division'). The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The Department's work to combat fraud supports President Trump's Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs.