Eleven individuals from Missouri, Kansas, Texas, and Washington have been charged by a federal grand jury for their involvement in a scheme that led to the issuance of over $220,000 in fraudulent Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The U.S. Attorney’s Office for the Western District of Missouri has announced that nine defendants have been arrested and an indictment has been unsealed and made public.
According to the federal indictment, all 11 defendants were involved in a conspiracy to submit false and fraudulent applications for PPP loans between February 2021 and July 2022.
According to the allegations, the conspiracy resulted in the issuance of over $220,000 in fraudulent PPP loans to individuals who were not eligible. Surprisingly, most of these loans were forgiven, despite the fact that the funds were not utilized for the intended purposes outlined in the PPP.
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