LOUISIANA
A federal grand jury this week indicted a man with fraudulently getting more than $1.1 million in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program Loans, officials stated.
According to the indictment, Michael Ansezell Tolliver, 56, of Monroe, submitted nine fraudulent PPP and EIDL Program loan applications.
He reported that he owned several companies, including Tolliver Oil & Gas Corporation of Louisiana Inc. and Tolliver Petroleum Corporation of Louisiana.
According to the indictment, Tolliver falsified information in the loan applications and supporting documents, including falsely claiming that some of his businesses had over 100 employees.
He also submitted falsified federal tax returns.
In total, Tolliver sought more than $7.6 million in PPP and EIDL Program loans and obtained more than $1.1 million. Tolliver then allegedly laundered and misused the loan proceeds, including by transferring the funds to personal bank accounts and purchasing cars and luxury goods.
Tolliver is charged with two counts of wire fraud and three counts of money laundering. If convicted, he faces up to 20 years in prison per count of wire fraud and 10 years in prison per count of money laundering.
Tolliver is presumed innocent unless proven guilty.