SHREVEPORT, La. (KTVE/KARD) — On Wednesday, October 27, 2021, a federal grand jury indicted 56-year-old Michael Aneszell Tolliver for fraudulently obtaining more than $1.1 million in Economic Injury Disaster (EIDL) and Paycheck Protection Program (PPP) Loans. According to the indictment, Tolliver submitted 9 fraudulent PPP and EIDL Program loan applications on behalf of several companies owned by him.
Tolliver allegedly falsified information in the loan applications and supporting documents, including falsely claiming that some of his businesses had over 100 employees. Tolliver also submitted falsified tax returns.
In total, Tolliver requested more than $7.6 million in PPP and EIDL Program loans, but was granted more than $1.1 million. Tolliver allegedly laundered and misused the loan money by transferring the funds to personal bank accounts and purchasing luxury goods and cars.
Tolliver was charged with two counts of Wire Fraud and three counts of Money Laundering. He faces up to 10 years in prison per count of money laundering and up to 20 years in prison per count of wire fraud.