Aiexpress – Eleven individuals from Missouri, Kansas, Texas, and Washington face indictment 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.
On Thursday, nine defendants were arrested, leading to the unsealing and public release of the indictment by the U.S. Attorney’s Office, Western District of Missouri.
According to the federal indictment, all 11 defendants are accused of taking part in a conspiracy to submit false and fraudulent applications for PPP loans between February 2021 and July 2022.
The alleged conspiracy resulted in the issuance of over $220,000 in fraudulent PPP loans to individuals who were not eligible. Despite the funds not being used for the intended purposes specified in the PPP, most of these loans were forgiven.
