MIAMI – Derek James Acree, 47, of Palm Beach County, Fla., was sentenced today to 41 months in prison for submitting fraudulent loan applications seeking more than $1.6 million in forgivable Economic Injury Disaster Loans (EIDL) and Paycheck Protection Program (PPP) loans. These loans are guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security Act. Acree obtained approximately $1.6 million by submitting fraudulent EIDL and PPP loan applications for companies he owned either in whole or in part. These companies included National Financial Holdings Inc., NFH Florida LLC, DBA Finova Financial LLC, and
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