BOSTON, MASSACHUSETTS – MAY 2021
A Louisiana woman has been charged with allegedly participating in a multi-state scheme to obtain millions of dollars in Paycheck Protection Program (PPP) funds for herself and others by submitting fraudulent applications to PPP lenders.
Lisa Lemoine, 38, of Bossier City, Louisiana, was charged with one count of conspiracy to commit wire fraud. A plea hearing has not yet been scheduled by the Court.
According to the charging document, Lemoine allegedly conspired with others to submit fraudulent PPP applications on behalf of borrowers and to collect up to 30 percent of the loan proceeds as a fee for securing the loans.
Beginning in March 2021, Lemoine and others allegedly recruited borrowers who were ineligible for PPP loans, claimed the borrowers operated businesses that qualified them for loans and created fake tax forms to backstop the borrowers’ fraudulent applications.
As a result, Lemoine and others allegedly obtained PPP funds to which they were not entitled. The indictment also alleged that the borrowers who received PPP funds based on these fraudulent applications paid kickbacks to Lemoine and others, commonly in an amount equal to 30 percent of the loan proceeds.
The charge of conspiracy to commit wire fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000, or twice the gross gain or loss from the scheme, whichever is greater.
Lemoine faces a significant prison sentence if convicted, with a potential sentence of up to 20 years in prison and a fine of up to $500,000.
The case is being prosecuted by Assistant U.S. Attorney Kristen Kearney of the Securities, Financial & Cyber Fraud Unit.
The details contained in the charging document are allegations. The defendants are presumed to be innocent unless and until proven guilty beyond a reasonable doubt in the court of law.
Related Federal Cases
- Robert Lee, PPP Loan Fraud, California 2020 · Massachusetts
- Todd Andrew Desper, Art Forgery Scheme, Massachusetts 2024 · Massachusetts
- Todd Desper, $5M Gardner Heist Scam, Massachusetts · Massachusetts
- Mark Croft, Opioid Tampering, Massachusetts 2024 · Massachusetts
- Lessie Dickerson, $2M Home-Improvement Fraud, South Carolina 2024 · Massachusetts
Key Facts
- State: Massachusetts
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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