GA Women Charged With Stealing $3.5 Million From PPP Scam

GEORGIA — Two metro Atlanta women were charged after participating in a scam to steal more than $3.5 million from the Paycheck Protection Program.

Lakisha Swope, 43, of Alpharetta, and Treisha Pearson, 49, of Brookhaven, face charges of conspiracy, wire fraud, bank fraud, and money laundering, according to the U.S. Attorney’s Office. Both women were indicted on Feb. 24.

“Swope and Pearson allegedly stole millions of dollars destined to help small business owners,” Acting U.S. Attorney Kurt Erskine said. “PPP dollars often provide a bridge for businesses suffering from the effects of the pandemic. However, PPP funds are not unlimited, and those who seek to enrich themselves fraudulently through this program will be prosecuted.”

Swope and Pearson, together with others, allegedly submitted false Paycheck Protection Program applications for a number of entities claiming over $5 million in loans, Erskine said. These Paycheck Protection Program applications allegedly contained materially false information such as false representations regarding the applicant entities’ total number of employees and average monthly payroll.

As a result of these false statements, lenders issued over $3.5 million in Paycheck Protection Program loans to these various entities. Swope and Pearson, along with other members of the conspiracy, then allegedly used the fraudulently obtained funds for unauthorized expenditures including luxury clothing, restaurants, personal rent, hotels, and vacation rentals, Erskine said.

“These two defendants are accused of misdirecting federal emergency assistance from businesses who need it to stay afloat, to their own pockets, during a pandemic,” said Chris Hacker, Special Agent in Charge of FBI Atlanta. “Their alleged greed affects every tax paying citizen and the FBI will make every effort to make sure funds provided by programs like PPP are used as intended.”

This case is being investigated by the Federal Bureau of Investigation.