US authorities have charged Louisiana resident Michael Ansezell Tolliver with wire fraud and ML. Tolliver fraudulently obtained more than $1.1 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program loans.
Tolliver submitted nine fraudulent PPP and EIDL Program loan applications for his many purported companies. In these applications, he presented false information and fake supporting documents, claiming that some of his companies had over 100 employees. He further submitted falsified federal tax returns.
Overall, Tolliver requested PPP and EIDL Program loans of over $7.6 million loans, finally receiving over $1.1 million. Thereafter, he laundered the proceeds by moving them to his personal bank accounts and purchasing luxury goods and vehicles.
Source: US Department of Justice