ATLANTA–Two people have been found guilty on all counts in a case involving $11 million in Paycheck Protection Program (PPP) fraud.
After just five hours of deliberation, Teldrin Foster, who was accused of filing fraudulent PPP applications using forged tax records, and Carla Jackson, who faced charges related to using her personal business to try to conceal the fraud perpetuated by a larger ring of criminals, were convicted on all counts.
The guilty verdicts follow earlier convictions of others involved in the wide-ranging scheme, with those individuals sentenced to terms as long as 15 years, in addition to monetary penalties.
EIDL Fraud Also Perpetrated
According to the U.S. Attorney for the Northern District of Georgia, the fraudsters bought gold Rolex watches, luxury cars and more with the proceeds. Some of the charges also involved fraud related to the Economic Injury Disaster Loan program.
In all, charges were brought against 23 people in the ring, 12 of whom pleaded guilty.
As CUToday.info reported earlier, prosecutors have alleged hundreds of millions of dollars if not more in fraudulent PPP and EIDL loans, many involving fake payroll claims.
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