SHERMAN, Texas – The gritty Eastern District of Texas is reeling as nearly two dozen defendants face a federal judge after being named in a massive Paycheck Protection Program (PPP) fraud scheme. U.S. Attorney Brit Featherston announced the charges today.
The 23 defendants, including Kendrick Lavell Collins, 42, of Aubrey, and Letisha Ann Stover, 41, of Richardson, are accused of conspiracy to launder proceeds of wire fraud. This dirty ring is alleged to have siphoned off over $3.5 million from various fraudulent activities such as business email compromise, romance scams, unemployment insurance fraud, and Payroll Protection Program (PPP) fraud.
According to the indictment, the conspirators opened bank accounts, assumed business names, and moved money around with intent to hide its true nature, location, source, and ownership. Each defendant could be locked up for up to 20 years in federal prison if convicted.
The investigation into this East Texas crime ring is being handled by the Federal Bureau of Investigation’s Frisco Resident Agency and prosecuted by Assistant U.S. Attorneys in the Eastern District of Texas. It’s a stark reminder that even amidst the pandemic, white-collar criminals are hard at work.
A grand jury indictment is not evidence of guilt, and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
This case underscores the importance of vigilance against financial crimes and the dedication of federal investigators and prosecutors who stand against organized fraud rings.
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Key Facts
- State: Texas
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Cybercrime|White Collar Crime|Organized Crime
- Source: Official Source ↗
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