A North Carolina man is facing federal fraud charges after allegedly attempting to obtain more than $6 million in Paycheck Protection Program (PPP) loans.
Prosecutors say he orchestrated a scheme to submit several fraudulent loans to area banks. They say he used names inspired by a popular book and television series as entities under which he filed for the fraudulent PPP loans.
In support of the applications, the defendant allegedly submitted several false statements about the nonexistent entities, including falsehoods about their employee base and salaries. Also allegedly submitted along with the applications were fraudulent tax filings detailing fictitious tax payments.
Altogether, prosecutors say the 38-year-old man submitted 14 fraudulent loan applications for a total of $6.1 million in loan proceeds. He allegedly obtained $1.7 million of the loan proceeds before his scheme was discovered.
The defendant was charged in federal court last week with wire fraud, bank fraud, and engaging in unlawful monetary transactions. No information on how he would plea to the charges has yet been released.
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.