2 Atlanta Men Indicted As Part of $3 Million PPP Scheme: Feds

ATLANTA — Two Atlanta men were among six people who were indicted late last week for fraudulently obtaining $3 million in Paycheck Protection Plan funds on behalf of businesses based in Georgia and South Carolina, the U.S. Attorney for the Northern District of Georgia announced.

The six people indicted join five others, including three from Atlanta and one from Marietta, who already pleaded guilty in connection with the scheme, prosecutors said.

Rodericque Thompson, 43, and Thomas D. Wilson, 30, both of Atlanta, were among those who were indicted, officials said. According to Acting U.S. Attorney Bobby L. Christine and court documents, Thompson recruited five people, including Wilson, to apply for PPP loans for their respective businesses. In exchange for a percentage of the loan proceeds, authorities said Thompson helped the others obtain a $300,000 PPP loan by submitting loan applications that contained false and misleading information about their businesses, prosecutors said.

Each of the applications stated that each of the businesses have 16 employees and monthly wages of $120,000, officials said. In addition, identical fraudulent quarterly tax returns were submitted as part of the loan applications. Court documents indicate that the loans were then use for purposes not allowed for under the guidelines of the federal program.

The group obtained $3 million in PPP loans, prosecutors said and to date federal authorities have recovered just more than $1.19 million of the stolen funds. The six people indicated have been charged with conspiracy to commit bank fraud, bank fraud, providing false information to a financial institution and money laundering.

Previously, five other men – including four from Atlanta – pleaded guilty to charges in connection to the scheme.

“The CARES Act, and the PPP, designated funds to aid struggling businesses during a pandemic,” Christine said in a news release announcing the indictments. “American businesses use these funds to help keep their companies and employees afloat during this unprecedented time. Scammers on the other hand seek an easy payday. We will continue investigating and prosecuting those who attempt to line their own pockets with these critical funds.”