US authorities arrested a man in Atlanta this week for allegedly being involved with a COVID-19 loan fraud ring.
Department of Justice alleges Ian Patrick Jackson (37), conspired to coerce another Atlantan to convince at least nine Atlanta businessmen to use fake tax documents to apply for fraudulent Paycheck Protection Program loans.
Jackson told business owners that they should falsely state each of them employed 16 people and pay $120,000 in wages per month. According to the DOJ, the business owners wrote false payroll checks for people that didn’t actually work for them. They then kept or paid the money directly to Jackson.
Jackson is accused of being connected with 15 COVID-19 loan frauds that resulted in $3,39 million. Jackson is the 12th defendant to face charges in relation to an Atlanta PPP fraud group. The 11 prior defendants have already been found guilty at trial or pleaded guilty. According to the DOJ, authorities recovered almost $1.2 million from defrauded money.
Jackson allegedly also applied fraudulently for $100,000 of PPP loans and Economic Injury Disaster Loans (EIDL), using false tax documents and a fake driver’s licence. According to the DOJ, Jackson also fraudulently obtained a second $240 035 PPP loan as well as $125,000 worth of EIDL loans and grants for another company.
Jackson is charged with two counts each of conspiracy to commit fraud against banks, bank fraud (two counts), wire fraud (two counts), and money laundering. These charges can result in a prison sentence of up to ten years.
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Feds Charge Atlanta man for Allegedly Applying For Over $3.390,000 In Fraudulent Loans To Small Businesses During COVID first appeared on The ICD.
