From The Tribune staff reports
BIRMINGHAM — A Tuscaloosa man was indicted last week for defrauding the Small Business Administration’s Paycheck Protection Program (PPP).
The indictment states that between April 2021 and November 2021, Doss submitted false and fraudulent PPP loan applications and received two separate PPP loans totaling more than $220,000. In the loan applications, the defendant allegedly misrepresented that his business was in operation and had employees for whom it paid salaries, that the funds would be used to retain workers, and that the information provided in the loan applications was true and accurate.
The maximum penalty for wire fraud is 20 years in prison and a $250,000 fine.
An indictment contains only charges. A defendant is presumed innocent unless and until proven guilty.