TAMPA, Florida — Caleb Walsh, a 36-year-old from Apollo Beach, has been indicted on charges of bank fraud, wire fraud, and illegal monetary transactions.
Walsh faces a potential 30-year federal prison sentence if convicted on all counts, according to U.S. Attorney Gregory W. Kehoe. The indictment also seeks the forfeiture of a Mercedes Benz G-Wagon, a hotel, and cryptocurrency, which are alleged to be linked to the proceeds of the offenses.
The indictment alleges that between March 2020 and March 2021, Walsh orchestrated a scheme to defraud multiple federally-insured financial institutions and another lender by submitting false Paycheck Protection Program (PPP) loan applications for companies he controlled. Walsh is accused of misrepresenting employee numbers, average monthly payroll costs, and falsely certifying that the PPP funds would be used for permissible expenses. He allegedly submitted fraudulent IRS tax forms and altered bank statements to support his claims…