1 week ago
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FRESNO, Calif. (KSEE/KGPE) - The CEO of a Visalia operation company, Joey Wayne Mackey, was arrested connected Friday pursuing allegations that helium fraudulently received much than $4M successful payer wealth done COVID-19 alleviation funds and federally guaranteed tiny concern loans.
According to the national Department of Justice, 45-year-old Joey Wayne Mackey submitted Paycheck Protection Program (PPP) indebtedness applications betwixt April and June of 2020 for 3 of his companies.
Mackey had reportedly submitted fraudulent applications for Forcum-Mackey Construction Inc., operation institution JWM Inc., and craft hangar-rental institution Mack Aviation LLC. All 3 of the applications for COVID-19 alleviation funds and federally guaranteed tiny concern loans contained fraudulent numbers of employees and fraudulent monthly payroll outgo calculations, national officials say.
Federal prosecutors accidental the bank, serving arsenic a lending spouse backing the COVID-19 alleviation done guaranteed tiny concern loans, provided $4,082,550 successful funds.
Over the pursuing months, prosecutors accidental Mackey laundered the PPP indebtedness funds done fraudulent payroll payments to household members. including his insignificant children. The DOJ says Mackey controlled the slope accounts of those household members.
In October 2020, the DOJ says Mackey pulled the funds retired of the household subordinate accounts to bargain "revenue-generating existent property acquisitions," specified arsenic bureau parks and luxury flat complexes. Mackey past enriched himself further done rent payments from tenants and continued making existent property investments and luxury goods purchases traceable to PPP funds done astatine slightest 2023.
If convicted, Mackey faces a maximum statutory punishment of 30 years successful situation and a $1 million fine.
