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Former Senator Andy Sanborn. File Photo (Alexander Cohn/ Monitor staff)
Sanborn, 64, whose company Win Win Win operates Concord Casino, pleaded guilty to one count of theft of government funds. U.S. District Judge Landya B. McCafferty scheduled sentencing for Oct. 15.
According to prosecutors, Sanborn received an $844,000 Economic Injury Disaster Loan through the federal Small Business Administration during the COVID-19 pandemic. The loans were intended to help businesses cover operating expenses and stay afloat during the economic downturn.
As part of the loan application, Sanborn certified that the money would be used solely as working capital for his business.
Instead, prosecutors said he diverted $255,232.72 for personal spending. Among the purchases cited in court documents was a $48,750 payment in January 2022 for a 2006 Porsche Cayman.
U.S. Attorney Erin Creegan said the case demonstrates the government’s continued effort to pursue fraud involving pandemic relief programs.
“This office is dedicated to combating fraud and prosecuting those who wrongfully take money from American taxpayers,” Creegan said in a statement.
Sanborn has been the subject of multiple state and federal investigations in recent years involving his casino business and the handling of pandemic relief funds. His guilty plea resolves the federal criminal case stemming from his use of COVID-era Economic Injury Disaster Loan funds.
The case was investigated by the FBI, IRS Criminal Investigation and the U.S. Postal Inspection Service.
The theft charge carries a maximum penalty of 10 years in federal prison and a fine of up to $250,000, although any sentence will ultimately be determined by the court under federal sentencing guidelines.
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