PITTSBURGH — A woman from Pittsburgh has been indicted on fraud conspiracy and bank fraud charges after she and a colleague allegedly falsified Paycheck Protection Program (PPP) loan applications and received over $14 million, the largest known PPP fraud in the Western District of Pennsylvania.
According to the Department of Justice, Virginia Humphries, 35, and Matthew Lloyd Parker, Jr., 36, from Detroit, are accused of defrauding the Small Business Administration (SBA) and lenders of around $14.5 million in PPP loans.
Officials said Humphries, a credit repair specialist, and Parker, a licensed CPA, recruited hundreds of small businesses in both cities and falsified loan applications.
The SBA approved 226 applications in total.
Humphries and Parker face a maximum of 50 years in prison, a fine of $1,250,000 or both. Sentencing will be determined based on the seriousness of the offenses and prior criminal history.
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