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Banks (Finance)

Couple Sentenced for Fraudulently Obtaining Over $2 Million in Bank Loans and COVID-19 Relief Funds

Strategic Insights

— 2 min read

Antoine Johnson and Kimberly Maddox, a couple residing in Georgia, were sentenced to prison for fraudulently obtaining approximately $2 million in bank loans and COVID-19 pandemic relief funds. Johnson, 49, was ordered to serve 51 months in prison, while Maddox, 44, received a 12-month prison sentence with six months of home confinement. The couple was also ordered to pay restitution in $3,037,868.10. The FBI handled the investigation, and Assistant U.S. Attorneys Caryn Finley and Graham Billings prosecuted the case.

Key Takeaways:

  • Antoine Johnson and Kimberly Maddox, a couple residing in Georgia, were sentenced for fraudulently obtaining approximately $2 million in bank loans and COVID-19 pandemic relief funds.
  • Johnson was ordered to serve 51 months in prison, followed by three years of supervised release, while Maddox received a 12-month prison sentence with six months of home confinement.
  • The couple was also ordered to pay restitution in $3,037,868.10 for their roles in the scheme.
  • Johnson and Maddox owned and operated Pick Up and Go Moving International, Inc. and affiliated businesses, which they used to secure multiple lines of credit, bank loans, Paycheck Protection Program (PPP) loans, and Economic Injury Disaster Loan (EIDL) program loans.
  • The defendants applied for loans totaling more than $3.4 million and lied on more than 35 loan applications about their business's income, gross revenues, expenses, and number of employees.
  • Johnson was previously convicted and sentenced to prison for mortgage fraud and was on federal supervised release at the time of the fraudulent loan schemes.
  • The couple pleaded guilty to conspiracy to commit bank fraud and wire fraud and making a false statement to a financial institution.
  • The FBI handled the investigation, and Assistant U.S. Attorneys Caryn Finley and Graham Billings prosecuted the case.
  • Anyone with information about allegations of attempted fraud involving COVID-19 can report it to the Department of Justice's National Center for Disaster Fraud Hotline.

Statistics:

  • $2 million in bank loans and COVID-19 pandemic relief funds were fraudulently obtained by Antoine Johnson and Kimberly Maddox.
  • $3,037,868.10 in restitution was ordered for the couple's roles in the scheme.
  • More than 35 loan applications were falsified by Johnson and Maddox.
  • The couple applied for loans totaling more than $3.4 million.
  • 51 months in prison was ordered for Antoine Johnson.
  • 12 months in prison was ordered for Kimberly Maddox, with six months of home confinement.

Sources:

  • US FBI
  • US Department of Justice
  • National Center for Disaster Fraud Hotline (NCDF) at 866-720-5721 or www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form

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