A former Texas FBI employee, Christopher James Phillips, was sentenced to three months of home confinement and five years of probation for fraudulently obtaining a Paycheck Protection Program (PPP) loan. Phillips submitted a false application using his FBI credentials, claiming to employ two individuals and a substantial payroll.
A former FBI employee from Texas has been sentenced to three months of home confinement and five years of probation for wire fraud related to the fraudulent use of the Paycheck Protection Program (PPP). Christopher James Phillips, 41, of Schertz, Texas, was found guilty of submitting a false PPP application in 2020 using his FBI credentials.
Phillips formed Phillips Global Realty LLC in December 2019 and applied for a PPP loan in May 2020, claiming he employed two individuals and had an average monthly payroll of $15,000. He further submitted a fabricated IRS Form 941 for the fourth quarter of 2019, falsely claiming a payroll of $50,000. IRS records show that Phillips did not file such a form between 2019 and 2022, exposing the falsity of his application. Phillips received $37,500 in PPP funds on June 2, 2020. He then wired $25,000 to a personal trading account, losing the entire sum through trading activities. Subsequently, he used a portion of the remaining funds to make payments towards his personal auto loan, home mortgage, and other personal expenses. Phillips was indicted in January 2024 on one count of wire fraud and one count of engaging in a monetary transaction over $10,000 using criminally derived proceeds. He pleaded guilty to the wire fraud charge in September 2024 and was sentenced accordingly. In addition to his home confinement and probation, Phillips was ordered to pay $39,771 in restitution. U.S. Attorney for the Western District of Texas, Jaime Esparza, emphasized the government's commitment to prosecuting individuals who misuse their positions for personal gain, stating, 'This sentencing should send a message to all government personnel who would consider using their position for personal gain. This office will carry out its duty and seek to hold you accountable for betraying the invaluable trust of the American people.
FBI PPP Loan Fraud Wire Fraud Home Confinement Probation Restitution
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