A New Hampshire casino owner admitted stealing more than $255,000 from a COVID-era federal loan and pleaded guilty to theft of government funds.
Anthony Sanborn, also known as Andy Sanborn, 64, entered a guilty plea this week to a federal charge of theft of Government Funds. The plea was announced by U.S. Attorney Erin Creegan, and the case centers on pandemic-era assistance intended to keep small businesses afloat.
Sanborn ran a business called Win Win Win that operated as Concord Casino and sought Economic Injury Disaster Loan assistance through the Small Business Administration. He applied for and received $844,000 in EIDL funds, certifying that the money would be used only as working capital for his business.
Investigators found that Sanborn diverted $255,232.72 of those loan proceeds to pay for personal expenses rather than legitimate business costs. One documented example shows that on January 18, 2022, Sanborn used $48,750 of EIDL funds to buy a 2006 Porsche Cayman, a purchase inconsistent with the certified purpose of the loan.
U.S. Attorney Creegan commented on the case, saying, “This office is dedicated to combating fraud and prosecuting those who wrongfully take money from American taxpayers,” said U.S. Attorney Creegan. “Today’s conviction was the result of incredible work done by a dedicated team of agents. We and our law enforcement partners will continue to diligently investigate those who target federal benefits programs.” Sentencing is set for October 15, 2026, when a federal judge will determine the appropriate penalty.
FBI Boston leadership was blunt about how the agency views such fraud. “This casino owner must’ve thought he hit the jackpot when he got more than a quarter of a million dollars set aside to keep businesses afloat amid a pandemic battering our economy. But the odds and the FBI finally caught up with him when he misused that money for his own financial gain,” said Ted E. Docks, Special Agent in Charge of the FBI’s Boston Division. “The FBI simply won’t stand for opportunists thinking they can defraud the federal government, live large, and get away with it. We will aggressively pursue anyone foolish enough to do so.”
The statute stacked against Sanborn carries stiff potential penalties: up to 10 years in prison and a fine of up to $250,000 or twice the gross gain or loss, whichever is greater. Federal judges impose sentences based on the U.S. Sentencing Guidelines and the statutes that govern criminal sentencing in federal court.
IRS Criminal Investigation also emphasized its role in rooting out theft of federal funds. “Today’s guilty plea of Andy Sanborn demonstrates IRS-CI’s continued commitment to root out fraud and theft from the United States Government at all levels,” said Thomas Demeo, Special Agent in Charge of the Internal Revenue Service Criminal Investigation, Boston Field Office. “Sanborn misappropriated federal funds designated to aid small business owners in their time of need, during a global pandemic. Instead of using these funds for their intended purpose and invest in his own business, Sanborn selfishly decided to use these funds for his own self-enrichment and to purchase luxury items.”
The investigation was led by the FBI, IRS Criminal Investigations, and the U.S. Postal Inspection Service, with Assistant U.S. Attorney Alexander S. Chen handling the prosecution. “The U.S. Postal Inspection Service routinely seeks prosecution of individuals like Anthony Sanborn, who misused funds that were designated to provide financial relief during the COVID-19 pandemic,” said Jason Buckley, Acting Inspector in Charge of the U.S. Postal Inspection Service, Boston Division. “Postal Inspectors, alongside our federal partners, uncovered a scheme where Sanborn spent over a quarter of a million dollars of the funds on personal expenses. We will continue to support and collaborate with our federal law enforcement partners to stop those who are engaged in these types of schemes.”
At the federal level, authorities have been reorganizing resources to target pandemic-era fraud more aggressively. The Department of Justice recently announced the creation of the National Fraud Enforcement Division, an effort intended to centralize investigations into large-scale and programmatic fraud. That work ties into broader government initiatives aimed at eliminating fraud, waste, and abuse within federal benefit programs.
