"Beginning in March 2021, the four and others allegedly recruited borrowers who were not eligible for PPP loans, according to the charging documents. The group then allegedly falsely claimed the borrowers operated qualifying businesses and created fraudulent tax forms to support the applications."
"The defendants and others allegedly collected kickbacks - commonly about 30% of the loan proceeds - from the borrowers in exchange for securing the funds, the charging documents state."
"According to court documents, the defendants allegedly submitted fraudulent applications to the Paycheck Protection Program, a federal COVID-19 relief initiative designed to help small businesses retain employees during the pandemic."
Four defendants—Lorne Johnson from Boston and Sniders Jean-Jacques, Tanya Pierre, and Ashley Spike from Florida—were indicted on conspiracy to commit wire fraud charges. Beginning in March 2021, they allegedly recruited ineligible borrowers and submitted fraudulent Paycheck Protection Program applications with falsified tax documents. The scheme resulted in approximately $7 million in fraudulent PPP disbursements. The defendants collected kickbacks averaging 30% of loan proceeds from borrowers in exchange for securing the funds. Jean-Jacques and Pierre face additional charges related to a separate mortgage and apartment lease fraud scheme.
Read at Boston.com
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