GUILTY PLEA! Michigan CPA Admits to PPP Fraud in Pennsylvania District Court
After being involved in the most significant Paycheck Protection Program (PPP) fraud reported in the Western District of Pennsylvania, a citizen of Michigan entered a guilty plea to a charge of fraud conspiracy.
Before United States District Judge W. Scott Hardy on Monday, May 20, Matthew Lloyd Parker, who is 37 years old, entered a guilty plea. By submitting bogus PPP loan applications for COVID-19 pandemic relief between March 2020 and August 2021, Parker, a registered certified public accountant in Detroit, allegedly colluded with other individuals who remain nameless to cheat lenders of around $14.5 million. This information was presented in court.
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In both Pittsburgh and Detroit, Parker enlisted the assistance of hundreds of small businesses and then fabricated PPP loan applications in their names. A payout in the multiple millions of dollars was made possible as a result of the Small Business Administration’s approval of 226 of those applications. Parker’s sentence was slated to take place on September 17, 2024, according to Judge Hardy. Up to thirty years in prison, a fine of up to one million dollars, or both might be the maximum term that he could receive for his crime.
The Federal Bureau of Investigation was the agency that carried out the investigation that ultimately resulted in Parker being brought to justice.