A Metropolitan Police Department (MPD) officer has been indicted on a federal bank fraud charge stemming from a scheme involving $18,345 in Paycheck Protection Program (PPP) loans.
Roberto Adams, 34, was indicted by a grand jury in the U.S. District Court for the District of Columbia.
According to the indictment, Adams made false and fraudulent claims last year to take advantage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a federal law that is designed to provide emergency financial assistance to millions of Americans who are suffering the economic effects resulting from the COVID-19 pandemic.
One source of relief provided by the CARES Act is the authorization of forgivable loans to small businesses for job retention and certain other expenses through the PPP. The PPP allows qualifying small businesses and other organizations to receive loans with a maturity of two years and an interest rate of one percent.
As alleged in the indictment, Adams sought and received approximately $18,345 in PPP loans through an application to a participating financial lender on behalf of SUPERKLEAN LLC, a Maryland corporation.
Adams was arrested on Aug. 13, 2021, following the filing of a criminal complaint in the case and remains free on personal recognizance pending further proceedings.
An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
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Key Facts
- State: Washington DC
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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