![]() ![]() He also misrepresented the number of employees of the EIDL applicant businesses. In EIDL applications, Timothy Jolloff misrepresented the gross revenue and cost of goods sold for the applicant businesses for which he sought EIDL funds. The Jolloffs also falsely represented and certified that PPP funds would be used to retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments. In the PPP loan applications, the Jolloffs falsely represented the number of employees and average monthly payroll for the applicant businesses. Lisa Jolloff's charges and penalties include wire fraud (20 years), four counts of illegal montary transactions(10 years) and conspiracy to commit money laundering (10 years).Īccording to the indictment and other court documents, between April and March 2021, the Jolloffs submitted false and fraudulent Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) loan applications to the Small Business Administration, as well as PPP approved lenders. Timothy Jolloff's charges (and potential maximum federal prison sentences per count) include 11 counts of wire fraud (20 years), seven counts of bank fraud (30 years), four counts of illegal montary transactions (10 years) and conspiracy to commit money laundering (10 years). ![]() The indictment also notifies the defendants that the United States intends to forfeit a 2019 GMC truck and approximately $3,403,265, which are alleged to be traceable to proceeds of the offense. Timothy Jolloff is also charged with multiple counts of bank fraud. A grand jury returned an indictment Friday charging Timothy Craig Jolloff, 46, and Lisa Ann Jolloff, 56, both of Fort Myers, with wire fraud, conspiracy to commit money laundering, and illegal monetary transactions in connection with Covid Relief fund fraud. ![]()
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