Pittsburgh woman charged in $14 million COVID business loan fraud
PITTSBURGH (KDKA) -- A Pittsburgh credit repair specialist and a Detroit accountant are charged with falsifying applications for more than $14 million in loans from the COVID-era Paycheck Protection Program.
A federal grand jury indicted Virginia R. Humphries of Pittsburgh and Matthew Lloyd Parker Jr. of Detroit on ten counts, the Department of Justice announced on Tuesday.
According to the indictment, Humphries and Parker recruited hundreds of small businesses in Pittsburgh and Detroit and falsified Paycheck Protection Program loan applications. The Small Business Association approved 226 totaling $14.5 million.
The Department of Justice said it's the largest known PPP fraud in the western district of Pennsylvania. Humphries and Parker face a maximum total sentence of 50 years in prison, a fine of $1,250,000 or both.
The USPS and FBI conducted the investigation leading to the indictment.