A drug dealer who supplied a gang with cocaine on the South Side also ripped off the government of more than $130,000 in COVID-19 pandemic relief money intended for struggling businesses, federal prosecutors say.
Marcus Taylor, 40, has pleaded guilty to defrauding the Economic Injury Disaster Loan Program in 2020 and the Paycheck Protection Program in 2021. He lied on loan applications that he owned a construction company. He spent the money on personal expenses.
Taylor also admitted to selling a kilogram of cocaine to an FBI informant in 2022 for $23,000. He collected about $17,500 from the informant, whom he kept badgering for the remaining $5,000.
“Yo … trying to get that balance lil bro,” he said in a text message, according to the FBI.
In his May 16 plea deal, Taylor acknowledged he had sold the informant about 2 kilograms of cocaine a month from 2020 through mid-2022. The informant then supplied gang members with the Black P Stones Nation with the cocaine, authorities said.
When the FBI searched Taylor’s home, they found more than $230,000 in cash and several guns. Taylor admitted the cash was from his drug deals. Under the terms of his plea, he has agreed to give up the cash to the government.
Prosecutors said Taylor faces a possible sentence of eight to 10 years in prison. He was previously sentenced in 2018 in Cook County criminal court to three years in prison for identity theft because he violated his probation in that case.
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