We are essential, and so are you! Our firm is still open for business and accepting new clients. To protect your safety in response to the threats of COVID-19, we are offering new and current clients the ability to meet with us via telephone or through video conferencing. Please call our office to discuss your options.
Free Consultation

Chicago Man Charged By Feds With Bank Fraud Over $400 Thousand Paycheck Protection Program Loan

money-1428594_640.jpgA Chicago-area man is facing Federal fraud charges relating to allegations that he attempted to wrongly obtain over $400,000 in Paycheck Protection Program (PPP) loans earlier this year.

According to investigators, the 51-year-old man applied for the loans, which are guaranteed by the Small Business Association (SBA) and authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act in order to fill payroll for a firm he owns. To support the claims made in the loan application, the man allegedly submitted several false and fraudulent IRS documents.

Among the false forms the defendant allegedly sent in was a forged 1099-MISC that indicated that his firm paid people they never actually paid. He also allegedly submitted several falsified Forms 941 inflating his company's payroll for 2019. However, upon comparison with forms previously filed with the IRS, investigators said they noted a substantial difference between the amount previously claimed and that amount submitted to support the PPP loan.

Altogether investigators say the defendant claimed $441,138 in fraudulent PPP loans.

The defendant was charged by a federal criminal complaint with bank fraud and making false statements to a financial institution in the chambers of a court in the Northern District of Illinois last week. No further proceedings have yet been scheduled.

The Law Offices of Bjorn Brunvand have been representing people charged with capital murder, felony drug charges, drunk driving, government fraud, and white-collar crimes for over a quarter century. Contact our office today to discuss your Tampa Bay-area state or federal charges.

No Comments

Leave a comment
Comment Information

Member of The Following Legal and Practice Organizations

  • American inns of court
  • norml
  • National association of criminal defense lawyers
  • Clearwater bar association
  • Florida Association of Criminal Defense Lawyers

Let Us Help You

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Clearwater Office
615 Turner Street
Clearwater, FL 33756

Phone: 727-315-1685
Phone: (727) 446-7505
Fax: 727-446-8147
Clearwater Law Office Map

Tampa Office
1710 N. 19th Street
Unit #210
Tampa, FL 33605

Phone: 727-315-1685
Map & Directions

Please Direct All Correspondence to the Clearwater Office