Steven Jalloul, a 43 year-old from Liberia, planned a fraudulent scheme in order to get $23 million in forgivable PPP loans.
On Tuesday, he pleaded guilty to a federal financial crime. Jalloul, a tax collector in Dallas, was initially charged through a criminal complaint in September 2020. He was indicted later that month.
Jalloul pleaded guilty to a superseding information charge. This includes a count of engaging in monetary transactions using property coming from illegal activities.
Jalloul confessed to utilizing funds from lenders that were a part of the PPP as he waited to be punished for a different tax fraud offense.
It was noted that he filled out about 170 fake applications for 160 clients as he sought about $23 million. He falsified earnings for his customers so that they could get more money.
Ultimately, $12 million was given out to his clients.
Jalloul faces up to 10 years in prison if he is found guilty.
They should make it publicly known for everyone that received money from false information. They need to be put on blast. It didnt make sense how many people advertised on IG how much they charge to create fake documents and what they charge to fill out loan applications for their clients.