Fort Myers, Florida – United States Attorney Roger B. Handberg announces the arrest and unsealing of a criminal complaint charging Timothy Craig Jolloff (46, Fort Myers) and Lisa Ann Jolloff (56, Fort Myers) with one count of conspiracy to commit money laundering and one count of illegal monetary transactions. Timothy Jolloff is also charged with one count of wire fraud. If convicted, each faces a maximum penalty of 10 years in federal prison on each of the charges. Timothy Jolloff faces an additional maximum penalty of 20 years in federal prison for the wire fraud offense.
According to the complaint, between April and May 2020, Timothy Jolloff submitted false and fraudulent Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) loan applications to the Small Business Administration (SBA), as well as a PPP approved lender. In PPP loan applications and loan documents, Timothy Jolloff falsely represented and certified that PPP funds would be used to retain workers and maintain payroll or make mortgage interest payments, lease payments, and utility payments. Moreover, in loan documents signed and submitted by Timothy Jolloff for EIDL loans, he mispresented that EIDL proceeds would be used solely as working capital and to alleviate economic injury.
Timothy Jolloff’s false and fraudulent representations caused the SBA and a PPP lender to approve and fund 11 EIDLs and 6 PPP loans, totaling approximately $2.14 million. Timothy Jolloff and his wife, Lisa Jolloff, then conspired to unlawfully use PPP and EIDL funds to purchase three pontoon boats for more than $300,000 total, real estate in Indiana, home furnishings, outdoor kitchens for their homes, a 2020 Polaris UTV, as well as jewelry, and two dogs. The couple also fraudulently used more than $600,000 in EIDL funds to purchase a furniture business in Indiana and a landscaping business in Sarasota, which had no connection to the businesses for which the couple had obtained COVID relief funds.
A criminal complaint is merely an allegation, and the defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law.
This case is being investigated by the United States Secret Service. It is being prosecuted by Assistant United States Attorney Trent Reichling.
In May 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit www.justice.gov/coronavirus.
The Department of Justice needs the public’s assistance in remaining vigilant and reporting suspected fraudulent activity. To report suspected fraud, contact the National Center for Disaster Fraud (NCDF) at (866) 720-5721 or file an online complaint at www.justice.gov/disaster-fraud/webform/ncdf-disaster-complaint-form. Complaints filed will be reviewed at the NCDF and referred to federal, state, local, or international law enforcement or regulatory agencies for investigation.