Acting Assistant Attorney General of the Justice Department’s Criminal Division, Brian Rabbitt, and Ryan Patrick, U.S. Attorney of the Southern District of Texas, have confirmed that a 22-year-old Houston woman, Lola Shalewa Barbara Kasali, was charged after she fraudulently obtained more than $1.9 million in Paycheck Protection Program (PPP).
Ms. Lola Kasali appeared in court before a U.S. Magistrate Judge, Christina Bryan, in Houston on Wednesday September 16, 2020.
Making false statements to a financial institution, bank fraud, wire fraud and engaging in illegal monetary transactions were charges Ms Kasali was indicted for.
Confirmed reports have it that Ms. Kasali had submitted two fraudulent PPP loan applications on behalf of two companies namely, Lola’s Level and Charm Hair Extensions. On approval of Lola’s Level loan application, Ms. Kasali received more than $1.9 million in PPP loan funds.
According to the charges, after receiving the funds Ms. Kasali had transferred the money to four separate bank accounts, which have been seized by authorities.
The loan stated both of Ms. Kasali’s companies had several employees and payroll expenses – but this was a misinformation, as neither company had staff nor pay salaries matching the amount she claimed.