Atlanta man charged with stealing $3M from US government through PPP loans scheme
An Atlanta man was arrested on federal charges of conspiracy to steal $3 million from the US government.
Ian Patrick Jackson, 37, is charged with one count of conspiracy to commit bank fraud, two counts of bank fraud, two counts of wire fraud, and two counts of money laundering. He was indicted on May 6.
'Jackson's arrest caps a lengthy investigation that involved multiple defendants and more than $3 million in stolen funds intended to help struggling Americans during a national health crisis,' said U.S. Attorney Theodore S. Hertzberg. 'These charges demonstrate our office's commitment to collaborate closely with our law enforcement partners to prosecute fraudsters who pilfered CARES Act funds.'
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According to court documents, Jackson allegedly conspired with another Atlanta man to 'solicit, recruit, and direct at least nine business owners to submit fraudulent Paycheck Protection Program (PPP) loan applications using fabricated tax documents.'
Each of those business owners received $300,000 in PPP funds. After they received the loans, the business owners wrote payroll checks to people who did not work for their businesses, then either kept the money for themselves or gave the money to another person who gave Jackson a share.
If found guilty, Jackson faces a maximum penalty of 30 years in prison on the conspiracy and bank fraud counts and 20 years in prison for the wire fraud and money laundering counts.
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