Texas Girl Charged With $ 2 Million COVID Reduction Mortgage Fraud

Photo by Olivia P. Tallet

Houston girl with obvious ties to wig and hair extension firms faces federal expenses accusing her of fraudulently acquiring greater than $ 1.9 million in loans to assist small companies throughout the COVID-19 pandemic, the Justice Division stated.

Lola Shalewa Barbara Kasali, 22, has made a minimum of two fraudulent functions for forgivable loans below the Paycheck Safety Program, prosecutors stated. Kasali, who’s accused of constructing false statements to a monetary establishment, wire switch fraud, financial institution fraud and taking part in unlawful cash transactions, is scheduled to look earlier than U.S. magistrate Christina for the primary time. Bryan Wednesday afternoon.

The PPP has supplied forgivable loans of as much as $ 10 million backed by the Small Enterprise Administration for small companies affected by the virus, with the first function of overlaying wage prices and maintaining employees employed.

Kasali reportedly acquired the taxpayer-guaranteed cash for 2 firms named Lola’s Degree and Attraction Hair Extensions.

To justify the necessity for the loans, Kasali claimed to have many workers and excessive payroll prices. Nevertheless, the DOJ stated not one of the firms had workers or paid salaries according to the quantities claimed in mortgage functions.

A web site for an organization named Lola’s Degree with an tackle in Houston sells wigs and hair functions.

Authorities stated all the cash was seized after Kasali deposited the mortgage funds into 4 totally different financial institution accounts.

With this case, the DOJ indicted a complete of 4 individuals in Houston and eight in Texas, the state with extra prosecutions introduced thus far relating to PPP fraud. Nationwide, the quantity is rising to over 50.

olivia.tallet@chron.com

Twitter: @oliviaptallet

About Aldrich Stanley

Aldrich Stanley

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