Four suspects were charged for their alleged involvement in a multi-million dollar scheme to defraud a federal COVID-19 pandemic relief loan program.
Vanessa M. Williams, 35, of Corona, and Denise Mata, 34, of Moreno Valley, were arrested and charged on a 23-count federal grand jury indictment Thursday morning, according to the U.S. Attorney’s Office.
Daryl D. Knighten Jr., 32, and Mikhail G. Hoalim, 33, were also charged in the scheme but remain at large.
According to the indictment, from March to August 2021, the suspects submitted fraudulent Paycheck Protection Program (PPP) loans for themselves, family members, close associates and people they recruited. The loan program was created by Congress in 2020 to help businesses impacted by the pandemic.
They reportedly promised to help their accomplices obtain COVID business loans in exchange for a cut of the proceeds, court documents said.
Prosecutors said they lied to banks and the U.S. Small Business Administration on loan applications by including false information that the applicants were self-employed and that the loan money would be used for authorized business purposes.