Businesses that have to repay the loan get 2 years to repay if funding was issued before June 5. You can search and filter the list, but only flagged loans will be shown. Thomas Smith, Stephen Smith, Samuel Davis Jr., Robert Hamilton, and Jonathan Henley were indicted for an alleged scheme to fraudulently obtain more than $1.1 million in PPP loans. Attorneys, including the Fraud Section, have resulted in a variety of charges, including wire fraud (18 U.S.C. The EIDL application information, submitted by the applicant, was used by SBA systems to calculate the amount of money the business was eligible to receive in the form of a loan. I did too!! Robert, youre probably right about finding fraud for years to come. He has contested the charges. The overwhelming majority of small businesses have no allegations of Paycheck Protection Program fraud. He also agreed to forfeit various assets, including more than $2.1 million in seized funds, three luxury vehicles a 2018 Mercedes-Benz S-Class S65AMG, a 2018 Land Rover Range Rover, and a 2017 Acura NSX and several items of jewelry, including a gold Rolex. Trucking Company Owner (Utah July 8), 22. In July, the Feds seized $866,019 from his bank accounts. The impact of COVID-19 on small businesses around the country has been devastating, said Acting U.S. Attorney Kurt R. Erskine. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. He is charged with false statements to a financial institution, bank fraud and engaging in unlawful monetary transactions. When the SBA-OIG or DOJ launches an investigation, executing an effective and timely defense is imperative. He allegedly obtained $200,000 in Paycheck Protection Program and Economic Injury Disaster loans and used the cash for personal expenses. Carlos Belone was charged with wire fraud and other charges in connection with several fraudulent applications. One defendant was so brazen he allegedly posted a rap video online flashing $100 bills. Charles Petty a/k/a Charles Knight, 48, of Atlanta - charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by Transportation Management Services Inc. Jerry Baptiste, 43, of College Park - charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, false statements to a federally insured financial institution, and money laundering in connection with the loan obtained by Transportation Management Services Inc. Charles Hill IV, 45, of Norcross - charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with the loan obtained by his business, Infinite Education Services Inc. Teldrin Foster, 39, of Decatur - charged with conspiracy to commit wire fraud in connection with the loan obtained by Bellator Phront Group Inc. Denesseria Slaton, 52, of Stockbridge - charged with conspiracy to commit bank fraud and wire fraud in connection with the loan obtained by Transportation Management Services Inc. Carla Jackson, 53, of Tucker - previously charged by indictment on August 4, 2020 with money laundering in connection with laundering the proceeds of Gaines Reservation and Travels PPP loan. He allegedly lied about his criminal past, and submitted fake tax documents including names of people who did not work for the businesses. I was eventually permanently laid off at the end of June. Federal authorities claim they used some of the coronavirus pandemic funds to buy luxury automobiles. The loan applications for each company were between $700,000 and $850,000. The indictment alleges Kanan was under federal indictment on an unrelated matter at the time. He was arrested after he booked a same-day flight to Pakistan. The allegations say he submitted fake IRS documentation. The Vegas High Roller (California July 16), 26. Adarin Jones, a/k/a Adrian Jones, 42, of Atlanta, Georgia. Bank of America PPP loans class action overview: Who: Three small businesses are suing Bank of America over its management of PPP loans. ATLANTA Seventeen more individuals have been charged in connection with a fraudulent scheme to obtain approximately $11.1 million in Paycheck Protection Program (PPP) loans and to use those funds to purchase luxury vehicles, jewelry, and other personal items. Azhar Sarwar Rana, 30, of Newton, New Jersey, was charged for submitting a fraudulent application for a real estate development company, and falsified payroll data. Goldstein allegedly transferred $355,000 in his personal bank account. ) or https:// means youve safely connected to the .gov website. Most of the funds are going to help the nations 31 million small businesses. Justice Department lawyers remind everyone that, A criminal complaint is merely an allegation and a defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.. After the PPP loan proceeds were deposited into the businesses accounts, the businesses transferred more than $5.5 million of the PPP loan proceeds into accounts controlled by Darrell Thomas, purportedly for rental payments and payroll. Steven R. Goldstein and his business partner, Raymond Magana are charged with applying for $2.5 million in loans and actually receiving over $1.95 million. Joseph Cherry II of Virginia was indicted on 10 counts of COVID fraud and faces 10 to 30 years of prison time on each count. That didnt stop him from allegedly applying for two PPP loans using different company names. Acting U.S. Attorney Audrey Strauss said, Goyal allegedly looted over $630,000 in federal funds earmarked for legitimate small businesses in dire financial straits.. PPP Loan Recipient List By State Georgia 553,322 TOTAL PPP LOANS $24.9B TOTAL LOAN AMOUNT $44,956 AVERAGE PPP LOAN 5 AVG COMPANY SIZE Georgia has a total of 553,322 businesses that received Paycheck Protection Program (PPP) loans from the Small Business Administration. The Cryptocurrency Investor (Texas July 14), 25. Great Article! The PPP allows the interest and principal on the PPP loan to be entirely forgiven if the business spends the loan proceeds on these expense items within a designated period of time and uses a certain percentage of the PPP loan proceeds for payroll expenses. Six people were charged by indictment in this ring spanning two states. Arman Manukyan, a San Fernando Valley man, is charged with fraudulently obtaining an $867,000 loan for a shell sewing company, Argo Global. Share sensitive information only on official, secure websites. Sum of Current Approval Amount. Its a wild tale. Once Quarterman and her co-conspirator, Katrina Lawson, who is a former deputy sheriff for Fulton County, Georgia and is still a certified peace officer, became familiar with the requirements and applications for the EIDL program and the PPP, they allegedly devised a scheme to submit fraudulent business loan applications on behalf of their friends and family who did not actually own businesses. The defendants allegedly abused both programs by submitting fraudulent applications and obtaining thousands of dollars that should have gone to support struggling businesses. Man Uses Forgery to Get EIDL and PPP Loans (North Carolina August 25), 38. Its alleged he then blew the money on a Rolex Presidential watch, a 5.73 carat diamond ring and other jewelry. Ronald Bell, who conspired to extort money from Georgia Institute of Technology, has pleaded guilty to a charge of conspiracy to commit extortion. The GAO also recommended auditing COVID-19 unemployment benefits paid to workers rehired through the loans. A 2020 Bentley Continental and Cadillac Escalade (New York December 21), 77. The loan applicants forgiveness process is bound to trigger another round of scrutiny. Our focus is on fraud.. This case is being investigated by the U.S. The banks internal auditors will then report it to the SBA faster than you can say oops, bad move.. Recording Artist Buys Ferrari with PPP Money (Florida October 6), 57. Lola Shalewa Barbara Kasali, 22, of Houston was charged with several counts in which she allegedly received more than $1.9 million for two companies, including Charm Hair Extensions. Where: The Bank of America PPP loans class action was filed in a California federal court. 2023 Oberheiden P.C. Ultimately Ugarte received funds from Transportation Alliance Bank. He allegedly obtained $841,000 in PPP funds for a defunct contracting company with no employees, called True-Cut. For a quick overview, this infographic tells the story of what happens when the funds are misused in a PPP loan fraud. The complaint alleges he ultimately received a loan for over $1 million. Its a scary thing for legitimate business owners to sign borrower certifications under potential penalties of fines and prison time. It will be viewed as a red flag for fraud in the event of an SBA audit or an SBA-OIG or DOJ investigation if a company does not have documented policies and procedures for PPP compliance. Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. PLANNED PARENTHOOD MUST BE PROSECUTED FOR TAXPAYER MONEY THEFT! Amir Aqeel, Siddiq Azeemuddin, Rifat Bajwa, Pardeep Basra, Mayer Misak, Maurico Navia, and Richard Reuth allegedly participated together in filing more than 80 fraudulent Paycheck Protection Program applications for $16 million. Hayford later pleaded guilty. In another unusual burst of government speed, the SBA and Treasury Secretary Steven Mnuchin started accepting loan recipients applications just a week later on April 3, 2020. Clients and prospective clients should be aware that when referencing to Firm's experience, this experience may combine the knowledge and experience of both Firm and its frequently used Local Counsel in the aggregate. Sum of Forgiven Amount. Love & Hip Hop: Atlanta star Maurice Fayne was indicted on fraud charges over a $3,725,500 PPP loan application for his company, Flame Trucking. Ganell Tubbs, the entrepreneur owner of Little Piglet Soap Company and Suga Girl Customs, an Etsy shop, is charged with fraudulently obtaining nearly $2 million in PPP loan. On March 16, 2020, Attorney General William Barr directed all 94 U.S. Attorneys Offices to prioritize investigating and prosecuting PPP loan cases of fraud. Construction Company Owner (Washington D.C. July 13), 24. The defendants allegedly took advantage of emergency financial assistance intended for business owners suffering the economic effects caused by the COVID-19 pandemic, said Acting U.S. Attorney Kurt R. Erskine. The Department suggests that "criminal rings" are orchestrating this fraud, without providing any real details. 90 PPP Applications in This Fraud Ring (Ohio and Florida August 6), 33. Man Charged with Identity Theft (Florida August 10), 34. Fraudulent Loans List :: PPP Detective Fraudulent Loans List These loans have been flagged by other users as potentially being fraudulent. Case data source and image source: Justice.gov. After two banks declined, Rowberry allegedly said she would help him re-apply through a friend. SBA partner banks initially approved 11 of the fraudulent PPP loans Lawson submitted and ultimately paid . The provisions of the CARES Act, in conjunction with an officially declared disaster by the United States Government, allowed the Small Business Administration (SBA) to offer EIDL funding to business owners negatively affected by COVID-19. Kyle William Brenizer of St. Paul is charged with wire fraud and money laundering. Authorities allege they falsely claimed to be farmers in the yards of their small homes. They are accused of using the cash for personal purchases including a Mercedes-Benz S-Class S65AMG and a Land Rover Range Rover. However, in conjunction with the submission of an EIDL application, by having clicked on and checked a box within the on-line application, an applicant could request and then receive up to $10,000.00, an EIDL Advance which did not have to be repaid. Postal Inspection Service (USPIS) and the Drug Enforcement Administration executed a search warrant at the home of Alicia Quarterman in connection with an ongoing narcotics trafficking investigation. Married Couple Attempting to Flee (Virginia June 24), 17. The criminal complaint goes on to say Caraballo also received $55,000 in Economic Injury Disaster Loan (EIDL) relief. But they apparently werent creative enough, as they submitted nearly identical applications each with 16 employees, and used identical fraudulent quarterly tax returns. Heres a list of the PPP loan prosecutions to date: 1. According to the SBA, thePaycheck Protection Program ended on May 31, 2021. Ahmad Kanan, formerly of Madison, is charged with wire fraud and money laundering. Have a question about Government Services? IRS-CI will continue to help illuminate these criminal deeds with our financial expertise., The Treasury Inspector General for Tax Administration aggressively pursues those who endeavor to defraud programs afforded to the American people under the CARES Act, said J. Russell George, the Treasury Inspector General for Tax Administration. All information on this website has been prepared for informational purposes only and does not constitute legal advice. Celebrities, entertainers and business leaders are among 19 people recently indicted in Georgia on charges that they defrauded the Paycheck Protection Program for a total of more than $3 million. McQuarn allegedly used the cash for personal use including buying a 26-foot Pavati Wake Boat and a Rolls Royce. Tranesha Quarterman, 33, of Atlanta, Georgia. As part of his guilty plea, Darrell Thomas admitted his participation in fraudulent conduct totaling more than $14.7 million, including more than $11.1 million in fraudulent PPP loans, more than $1.15 million in fraudulent Economic Injury Disaster Loans, and more than $2.4 million in fraudulent automobile loans. The Form 941s, bank statements, and W2 payroll spreadsheets had all been fabricated. Well at least the Feds got that back. Tonye Johnson was also charged with getting a PPP loan of $389,627and paying a portion of the loan proceeds to his co-conspirators. Dr. Eric R. Shibley is charged with one count of wire and bank fraud each. Its going to raise a red flag. When making use of PPP loan funds, companies should extensively document their expenditures in order to demonstrate that they have used their PPP loans for authorized purposes only. Antonio George of Michigan was charged in a criminal complaint with trying to obtain $3.1 million in PPP loans on behalf of 19 different companies. NEED I SAY MORE! 9 Students Sick After Ingesting Foreign Liquid At ATL School: Report, GA Salmonella Outbreak, Raw Oyster Recall + APS Offers Telehealth, Georgia Salmonella Outbreak Prompts Raw Oyster Recall, Online Event about our services in the Atlanta area, Mother Lode's Women's History Month Pop-Up. I appreciate your consideration/guidance/help/time. The government wisely decided to move fast and let the justice system track down any miscreants. The Small Business Administration has released a list of businesses that have received emergency pandemic loans. A few individuals will be arrested stripped of their material things. This comes as federal prosecutors in Georgia continue to make new arrests for PPP fraud. An 18-Room Tuscan Mansion on the Taxpayer Dime (New York September 17), 51. Darryl Washington, 66, of Atlanta, Georgia. Federal auditors and investigators will view these types of activities with skepticism, and as potential evidence of an attempt to either fraudulently obtain a PPP loan or use PPP loan funds for unauthorized purposes. He allegedly was caught on camera withdrawing cash. Keeping it All in the Family (Arkansas December 16), 73. Under the CARES Act, companies are only eligible to receive one PPP loan from one lender at a time. If your company received a PPP loan, is it at risk? NFL Player Blows 62 Grand at the Hard Rock Casino (Florida September 10), 49. Chinese Man Found Guilty Of $20 Million Dollar PPP Fraud Scheme Chinese national who lived in New York pled guilty in connection with a fraudulent scheme to obtain over $20 million. A locked padlock The pair are charged with submitting 18 fraudulent Paycheck Protection applications with false payroll tax returns, and receiving $1.4 million. Two Men, Identity Theft and a Conspiracy (Rhode Island - May 5, 2020) David Staveley, aka Kurt D. Sanborn, and David Butziger were charged with conspiring to seek over $530,000 in PPP money. Loot paid for with PPP loan money included two Lamborghini Huracan sports cars, a Rolex Presidential watch, a 5.73-carat diamond ring, a diamond bracelet, two Tesla cars, a 26-foot Pavati Wake Boat, a 33-foot Cruiser yacht, two Rolls-Royces, a Lamborghini Urus luxury SUV, a Kia Stinger, a Ford F-350 pickup truck, at least three Bentleys, and an assortment of other pricey vehicles and boats. Some of the law enforcement agencies involved in investigating are: The Board of Governors of the Federal Reserve System and Bureau of Consumer Financial Protection Office of Inspector General; Small Business Administration Office of Inspector General (SBA-OIG); Federal Deposit Insurance Corporation Office of Inspector General (FDIC-OIG), and the FBI. Fake IRS filings. In that same time frame, Lawson allegedly submitted 11 fraudulent PPP loan applications on behalf of many of the same individuals in an attempt to obtain at least $224,000. And for how much? The overwhelming majority of owners who received PPP loans legitimately used the money to retain employees and stay operational. It is free MONEY no one will repay one single dollar. This federal statute imposes penalties of up to a $1 million fine and 30 years of federal imprisonment for, "knowingly execut [ing], or attempt . Unfortunately, the owners of Victoria Nails & Spa saw this program as their own personal piggy bank.. Along with its application requirements, the CARES Act also establishes requirements for how companies use, and account for the use of, PPP loan funds. More than 15% of PPP loans had at least one indication of potential fraud. He allegedly lied about not being under criminal charges he in fact was under indictment for a bribery scheme. According to U.S. Attorney James Kennedy, Mr. Nationwide Federal Defense, Compliance and Litigation. The Justice Department alleges that George submitted identical wage information and employee count records for two separate companies, one of which was out of business since 2015. Amanda Christian, 33, of Blythewood, South Carolina, is charged with conspiracy to commit bank fraud and wire fraud, bank fraud, wire fraud, and false statements to a federally insured financial institution in connection with her involvement in the loan obtained by her business, Advertising and Then Some Inc., and several other businesses loans. Game of Thrones Inspired These Fake Company Names (North Carolina September 29), 54. $1,659,747. The charges allege the usual. On Jan. 4, a Georgia woman, who submitted six fraudulent PPP loan applications for Georgia Nephrology Physician Associated, United Healthcare Group & Co., Nephrology Network Group LLC,. Made Down Payments on Million Dollar Homes (California November 18), 69. Dwan Ashong a/k/a Dwan Gilpin, 40, of Jacksonville, Florida, is charged with conspiracy to commit wire fraud, wire fraud, and money laundering in connection with her involvement in several businesses loans. Defunct Chicago Restaurateur (Illinois August 28), 42. If the PPP debt is not forgiven, the interest rate is very low 1%. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts, For more information on the Departments response to the pandemic, please visit https://www.justice.gov/coronavirus. PPP Loan Fraud List | Who Got a PPP Loan? Other red flags for PPP loan fraud include atypical business activities such as forming new business entities and entering into new debt obligations. These are significant questions, and they are questions that you need to answer sooner rather than later. Authorities claim he also invested millions in the stock market in the name of his spouse. Some of them operated as crime rings as part of the PPP loan fraud schemes they were committing. But according to the criminal complaint, Palermo used company funds for lavish personal expenses including a Ferrari racing car, leaving the business in financial distress. A Porsche and Lamborghini (Texas November 17), 68. He allegedly received over $1.6 million. The bank recalled one loan and the Government seized funds for the other two. Man Flashes $100 Bills in Rap Video (New York September 10), 48. ATLANTA - Seventeen more individuals have been charged in connection with a fraudulent scheme to obtain approximately $11.1 million in Paycheck Protection Program (PPP) loans and to use those funds to purchase luxury vehicles, jewelry, and other personal items. He will just out of prison. Law enforcement assisting in the investigation included the Small Business Administration OIG office, the FBI, FDIC and others. Man Gives 23 People Pandemic Pay, Buys House (Nevada August 26), 39. Argires allegedly filed two fraudulent PPP applications seeking $1.1 million in forgivable funding. Keith William Nicolettawas charged with seeking more than $1.9 million in a Paycheck Protection Program loan to pay employees of a scrap metal company when, in fact, he had paid no payroll taxes for employees. David T. Hines of Miami is charged with fraudulently seeking $13.5 million in PPP funds using false statements about various companies payroll expenses. California July 16 ), 34 Eric R. 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