On Wednesday, October 27, 2021, a federal grand jury indicted 56-year-old Michael Aneszell Tolliver for fraudulently acquiring greater than $1.1 million in Financial Damage Catastrophe (EIDL) and Paycheck Safety Program (PPP) Loans. In keeping with the indictment, Tolliver submitted 9 fraudulent PPP and EIDL Program mortgage purposes on behalf of a number of firms owned by him.
Tolliver allegedly falsified data within the mortgage purposes and supporting paperwork, together with falsely claiming that a few of his companies had over 100 staff. Tolliver additionally submitted falsified tax returns.
In whole, Tolliver requested greater than $7.6 million in PPP and EIDL Program loans, however was granted greater than $1.1 million. Tolliver allegedly laundered and misused the mortgage cash by transferring the funds to private financial institution accounts and buying luxurious items and automobiles.
Tolliver was charged with two counts of Wire Fraud and three counts of Cash Laundering. He faces as much as 10 years in jail per rely of cash laundering and as much as 20 years in jail per rely of wire fraud.