DETROIT – West Bloomfield residents Peter Valente and Angela Toma have been charged with conspiracy to commit over $2.6 million in wire fraud relating to pandemic assistance loans, United States Attorney Jerome F. Gorgon Jr. announced. Valente also faces an obstruction of justice charge.
Gorgon was joined in the announcement by Jared Murphey, acting Special Agent in Charge of Homeland Security Investigations Detroit.
According to a criminal complaint unsealed today, Valente and Toma collaborated to fraudulently obtain $2,609,210 from the Paycheck Protection Program. Valente and Toma are alleged to have submitted false loan applications to Paycheck Protection Program lenders using inactive businesses and falsified bank records. When federal agents began investigating the loan fraud, Valente approached them and repeatedly claimed that Toma was solely responsible, and he was unaware of the crime until it had concluded. Further investigation revealed that Valente was in fact an active collaborator in the scheme, going so far as to celebrate with Toma when a fraudulent loan was approved.
A complaint is only a charge and is not evidence of guilt. Trial cannot be held on felony charges in a complaint. When the investigation is complete, determinations will be made whether to seek felony indictments.
The case is being prosecuted by Assistant U.S. Attorney K. Craig Welkener and investigated by Homeland Security Investigations.
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