Georgetown woman convicted after receiving over $2M from fraudulent PPP loan applications, DOJ says
GEORGETOWN (KXAN) -- A Georgetown woman was convicted by a federal jury after receiving more than $2 million from fraudulent Paycheck Protection Program, or PPP, loan applications, according to the U.S. Department of Justice.
The DOJ said court documents and evidence presented at trial show that Tiffany Fullerton, 47, along with her husband and two other co-conspirators, used dormant and expired business names to submit five fraudulent PPP loan applications for more than $3 million.
According to the DOJ, four of those applications were funded, and the defendants received approximately $2.4 million in PPP funds.
The funds were used in an attempt to start a business in Oklahoma consisting of a marijuana grow and dispensary, a bar and grill, and an auto/boat repair shop, according to the DOJ. The defendants also used the money to buy a motorhome, luxury watches, a boat and other personal expenditures.
The DOJ said the three other defendants in the case, Michael Fullerton, David Scott Starkes and Joseph Robles, all pleaded guilty and await their sentencing hearings.
The IRS Criminal Investigation and the Treasury Inspector General for Tax Administration investigated the case.