Nearly two dozen Texans were slapped with federal charges related to an alleged fraud scheme that involved funds from the Paycheck Protection Program (PPP), officials announced Friday.
— Nearly two dozen Texans were slapped with federal charges related to an alleged fraud scheme that involved funds from the Paycheck Protection Program , officials announced Friday.
Brit Featherston, U.S. Attorney for the Eastern District of Texas, announced that the 23 individuals had been named in a federal indictment returned by a grand jury on Jan. 17, 2023. They all face money laundering conspiracy charges and appeared before a federal judge this week.
Prosecutors claim that the 23 people charged were involved in a conspiracy to launder money fraudulently obtained from the PPP. The accused conspirators allegedly opened bank accounts under assumed business names to transfer, withdraw, and move the money for their own gain. According to the indictment, the defendants illegally obtained $3.5 million through several different types of fraud. These included business email compromises, romance scams, unemployment insurance fraud, and PPP fraud.
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