An Atlanta man is facing serious prison time after allegedly orchestrating a massive COVID-19 relief loan fraud scheme.
Millions in Fraudulent Loans
37-year-old Ian Patrick Jackson is accused of conspiring with another individual to defraud the Paycheck Protection Program (PPP). They allegedly recruited at least nine business owners to submit fake loan applications. The applications falsely claimed each business employed 16 people and had a $120,000 monthly payroll. The business owners then wrote fake payroll checks, pocketing some of the money and giving the rest to Jackson through his accomplice.
In total, Jackson is linked to 15 fraudulent applications totaling over $3.39 million. He’s the twelfth person charged in this Atlanta-based PPP fraud ring; the other eleven have already pleaded guilty or been convicted. Authorities have recovered almost $1.2 million of the stolen funds.
More Than Just PPP
The charges against Jackson don’t stop there. He allegedly also applied for a separate $237,500 PPP loan using fake tax documents and a forged driver’s license. He’s also accused of fraudulently obtaining around $100,000 in PPP and Economic Injury Disaster Loan (EIDL) program loans using false revenue statements. Furthermore, he allegedly secured another $240,035 in PPP loans and $125,000 in EIDL loans and grants for a different company.
Facing Decades in Prison
Jackson faces charges including conspiracy to commit bank fraud, bank fraud, wire fraud, and money laundering. These charges could land him in prison for decades.
