Timothy Dale Warren Indicted for PPP Loan Fraud

Posted on August 20, 2022Comments Off on Timothy Dale Warren Indicted for PPP Loan Fraud

Kansas Chiropractor, Timothy Dale Warren Indicted for PPP Loan Fraud

(STL.News) A federal grand jury in Wichita indicted a Kansas man on multiple charges for alleged crimes related to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which is a federal law providing financial relief to businesses suffering economic losses because of the COVIID-19 pandemic.

Under the CARES Act, the Small Business Administration (SBA) is authorized to grant businesses forgivable loans for payroll, utilities, rent, and other expenses through the Paycheck Protection Program (PPP).

According to court documents, Timothy Dale Warren, 58, of Haysville is charged with four counts of bank fraud, two counts of money laundering, and four counts of false statements. Warren, a chiropractor, is accused as owner of Titan Medical Center LLC of fraudulently obtaining PPP loans totaling approximately $145,800 from two banks then allegedly using a third bank to conceal the proceeds.

U.S. Attorney Duston Slinkard of the District of Kansas made the announcement.

The U.S. Department of Defense- Defense Criminal Investigative Service and Defense Contract Audit Agency, the U.S. Department of Health and Human Services – Office of Inspector General, and the U.S. Department of the Treasury – Internal Revenue Service, Criminal Investigations are investigating the case.

Assistant U.S. Attorney Aaron Smith is prosecuting the case.

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

SOURCE: USDOJ.Today

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