Detroit — A West Bloomfield couple is facing federal charges after investigators say they conspired to fraudulently obtain more than $2.6 million in pandemic relief funds through the Paycheck Protection Program.
According to a criminal complaint unsealed Wednesday, Peter Valente and Angela Toma are charged with conspiracy to commit wire fraud related to a scheme involving fraudulent Paycheck Protection Program (PPP) loan applications.
Federal authorities allege the pair submitted multiple false loan applications using inactive businesses and falsified bank records in order to obtain $2,609,210 in pandemic assistance funds.
Investigators say Valente and Toma worked together to secure the loans through deception. According to the complaint, the couple allegedly celebrated together when one of the fraudulent loans was approved.
When federal agents began investigating the scheme, prosecutors say Valente attempted to distance himself from the fraud. Authorities allege he approached investigators and repeatedly claimed that Toma alone was responsible for the operation and that he did not learn about the fraud until after it had already occurred.
However, investigators say further evidence revealed that Valente was actively involved in the scheme from the beginning, contradicting his statements to federal agents. As a result, Valente is also charged with obstruction of justice.
The charges were announced by United States Attorney Jerome F. Gorgon Jr., alongside Jared Murphey, the acting Special Agent in Charge of Homeland Security Investigations in Detroit.
Valente and Toma are presumed innocent unless and until proven guilty in a court of law.
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