FORT MYERS, Fla. — A Fort Myers couple has been charged in a more than $2 million COVID-19 relief fraud scheme.
According to the State Attorney's Office, Timothy and Lisa Jolloff are charged with conspiracy to commit money laundering and illegal monetary transactions. Timothy faces an additional charge of wire fraud.
A criminal complaint claims that, between April and May of 2020, Timothy submitted false and fraudulent Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) loan applications to the Small Business Administration (SBA).
In a letter, Timothy falsely claimed that the funds he received would be used to pay employees and business-related bills.
The SBA approved Timothy's applications and granted him a total of $2.14 million.
The Jolloff's then allegedly used the funds to purchase three pontoon boats for more than $300 thousand. They also purchased real estate in Indiana, home furnishings, a UTV, jewelry and two dogs.
The couple also used EIDL funds to purchase a furniture business in Indiana and a landscaping business in Sarasota.
The criminal complaint in this case is only an allegation. The suspects are presumed innocent until proven guilty beyond reasonable doubt.
