FORT MYERS, Fla. (WFLA) — A Florida couple has been indicted in connection with a $3.4 million COVID-19 relief fraud scheme, according to the U.S. Department of Justice.
Timothy Craig Jolloff, 46, and his wife, Lisa Ann Jolloff, 56, both of Fort Myers, allegedly submitted fake applications for Economic Injury Disaster Loan and Paycheck Protection Program loan, according to the DOJ.
The Jolloffs falsely said they would be using the money to retain employees, and allegedly lied about the number of employees and payroll for the business, according to a news release.
The Jolloffs reportedly used the $3.4 million fraudulently obtained through the loans to buy pontoon boats for about $300,000, real estate in Fort Myers and Angola, Indiana, home furnishings, outdoor kitchens, a 2019 GMC Truck, a 2020 Polaris UTV, jewelry, and two dogs, according to the DOJ.
The couple also allegedly purchased a landscaping business in Sarasota and a furniture business in Indiana, according to the DOJ. Neither business was connected to the business the couple used to obtain the fraudulent loans.
The couple will be asked to forfeit the GMC truck and about $3.4 million which were reportedly traceable to the fraudulent loans.
The couple was charged with wire fraud, conspiracy to commit money laundering, and illegal monetary transactions, as well as an additional charge of bank fraud for Timothy Jolloff, according to the DOJ.
