Waxahachie woman indicted in $1.2 million pandemic relief program fraud scheme
WAXAHACHIE, Texas (CBSDFW.COM) — A Waxahachie woman was indicted on Tuesday for allegedly defrauding federal pandemic relief programs.
Annette Bryant, 63, of Waxahachie, was indicted on Nov. 8, 2022 for allegedly defrauding the Payment Protection Program and Economic Injury Disaster Loan Program out of more than $1.2 million. She's been charged with one count of wire fraud, eight counts of making false statements to a bank, and one count of engaging in monetary transactions in property derived from unlawful activity.
According to the indictment, Bryant – the sole owner and proprietor of several businesses – fraudulently applied for and obtained six PPP loans totaling $848,586 and four EDIL loans totaling $359,500. Two additional PPP loans worth $411,160 she applied for were not approved.
Bryant is accused of making multiple false statements in her PPP loan applications. She allegedly misled financial institutions about how many employees her businesses had, inflated their payrolls, and even lied about the number of businesses she owned.
In EDIL loan applications submitted to the Small Business Administration, Bryant also allegedly misrepresented her businesses' gross revenues.
Prosecutors also alleged that Bryant sent tax forms to institutions administering the loans that she claimed had been filed with the IRS but had not actually been submitted. These forms also allegedly gave false information about her businesses and personal income.
If Bryant is convicted, she faces up to 30 years in federal prison for each count of making false statements to a bank, 20 years for wire fraud, and 10 years for each count of engaging in transactions with property derived from illegal activity. She would also be required to surrender the money she obtained.