US authorities arrested an Atlanta man this week on fees associated to his alleged connection to a COVID-19 reduction mortgage utility fraud ring.
The Division of Justice (DOJ) alleges that Ian Patrick Jackson, 37, conspired with one other Atlanta man to recruit not less than 9 enterprise house owners to submit fraudulent Paycheck Safety Program (PPP) mortgage functions utilizing faux tax paperwork.
Jackson allegedly informed the enterprise house owners to falsely declare they every employed 16 people and paid month-to-month wages of $120,000. The DOJ says the house owners then wrote falsified payroll checks to individuals who didn’t work for them after which both stored the cash for themselves or paid Jackson through his co-conspirator.
Jackson is allegedly linked to fifteen fraudulent COVID-19 reduction mortgage functions that inked $3.39 million in proceeds. He’s the twelfth particular person to be charged in reference to an Atlanta-based PPP fraud ring, with the 11 earlier defendants having already pled responsible or been convicted at trial. The DOJ says authorities have recovered practically $1.2 million of the defrauded funds.
Jackson additionally allegedly utilized for a separate $237,500 PPP mortgage utilizing fabricated tax varieties and used a solid driver’s license and false income statements to fraudulently apply for roughly $100,000 in PPP and Financial Harm Catastrophe Mortgage (EIDL) program loans. The DOJ additionally says he fraudulently secured one other $240,035 PPP mortgage and $125,000 in EIDL program loans and grants on behalf of one other firm.
Jackson has been charged with conspiracy to commit financial institution fraud, two counts of financial institution fraud, two counts of wire fraud and two counts of cash laundering. The fees may end in a long time in jail.
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