Federal Prosecutors Charge Six in Michigan Over Alleged $8.2 Million COVID-Era Loan Losses

Federal prosecutors charged, obtained guilty pleas from, and sentenced six people in Michigan over about $8.2 million in alleged COVID-era loan losses. According to NS3.AI, the cases are part of a two-month national surge involving more than 160 defendants and roughly $245 million in intended taxpayer harm. The Michigan cases include alleged fraud tied to inactive companies, fraudulent PPP and EIDL loans, stolen identities, and inflated payroll. Prosecutors said the actions were part of broader efforts to pursue pandemic-related loan abuse across the country.