DOJ v. Nicole Pennington

Nicole Pennington allegedly devised a scheme to defraud the government by making materially false statements on PPP and EIDL applications. According to the DOJ, Pennington submitted about 30 PPP and EIDL applications on behalf of actual and fabricated businesses associated with herself and her husband, Joshua Pennington. All of these applications contained material falsehoods, and Nicole Pennington supported them with fraudulent tax returns, financial statements, and other records. Six of the loan applications were approved for a total of $1090398.35 in fraudulently obtained SBA loan proceeds. After receiving the loan proceeds, Nicole Pennington and Joshua Pennington laundered more than $1,000,000 in criminally derived funds.

Summary generated from official Department of Justice press release